Depends when it's putting out the 14.7 volts and for how long. Also depends where you are getting the volt reading from. Are you checking at the alternator output post, from the battery, or where?
A typical automotive alternator with a built-in regulator can make voltage run up to 15.5 volts and still be working properly. That is only supposed to happen at high amp-rate charge situations though.
A typical system can spike up to 15.5 volts when a battery is highly discharged and there is a high-amp charge. It can also happen if there are bad connections somewhere. With normal start-run situations - first fast charge is normally around 14.6 volts and will come down to a "maintenance" charge of 13.4 volts.
I wouldn't blame your alternator until you either check all else - or isolate the alternator and test it properly. At the least - hook it direct to a battery known to be good.
A typical car battery (flooded lead acid) can handle a fast charge at over 15 volts just fine with no damage. If fact, when done right - it makes batteries last longer. It's not practical on a car or truck - but large battery banks are often over-volted to prolong their lives - usually called battery "equalizing."
Also, batterys in cold weather can handle a much higher charge voltage than batteries in hot weather.
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