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I can only get 13.2 to 13.5 Volts out of my 99 PSD at highway speeds in drive or overdrive when pulling my 5er, but I get 13.9 to 14.2 running solo.
Yes I do have a number of other things running as I pull the RV including the RV battery, 2-12V coolers (Got to keep the beer cold), 400 Watt Inverter, AC fan on high, GPS, BrakeSmart brake controller, 3 pillar mounted gauges, running head lights (truck built and sold in Canada), and some other things I have overlooked.
I checked the altenator part no. and it checks out as a 105 amp unit. I thought Ford used 115 amp as standard.
A guy I run into on vacation last week indicated that I needed to run the AC fan on medium to low to get more voltage for the trans and it would run cooler???
I do have an extra trans cooler plus a Banks TranCommand on the truck and with 95 degree outside temps I would have to stop and let things cool off every now and then. My cut off point to do this was 205 to 210 degrees.
Does the low voltage effect the something in the trans?
It's going to give your batteries an early demise. They will only run at half charge at that voltage. Suggest limiting the load on your overworked alternator or getting a dual setup.
Where is are you taking you reading from? It may be as simple as the voltage on the line you are monitoring is being taken down. If possible, try tapping your volt meter off of the alternator, as that would give you some accurate reading as to what your alt is doing. If it is there then the load you have is too much for the alt. I know for large current devices, like inverters and souped up car stereos, due to current draw the voltage drops dramatically on those lines that it is hooked up on.
Have you tried to turn everything off to see if the voltage is comes back up?