Again good solid connections and low resistance in your grounds are important.
I had replaced the stock alt with a third gen Ford alt. Internal fan , internal regulator. After 2 seasons the gen light would blink and the epanded scale volt meter would vary about 1 volt. Thought the regulator was failing. Nope regulator was a little loose on the rear of the alt case.
At the grounds I mentioned earlier on the transaxle and front compartment I went to the hardware and bought "external tooth" lock washers . They dig into the ring terminal and stud.
A last resort after checking all the connections would be try a different regulator. 1997 would be in the solid state era. They are cheap at the parts store , but if you still have a bad connection somewhere it would be a waste of money.
Again the search function on this forum should bring up a wealth of information on what other members encountered.
Remember to work safe , lots of juice in the battery and working on the regulator , through the wheel well you can get squashed.
The schematic JFB sent you came from The Pantera Place.
Then click on technical and there are simplified system schematics.
Good luck with repairs.
That's awesome David
Thank you so much!
Will keep you posted
Warren
As if you need any more input ... how old is the car's battery, and are the cells all full? A healthy battery has very low internal resistance, and the voltage measured across it should not vary much if at all.
I have a question for the group.....
Can a slightly loose cable on the negative battery terminal cause fluctuations in the voltmeter readings 14.7 to 15.3?
Yes, I think that is quite possible. Loose connections, bad grounds, and corrosion cause all kinds of electrical problems. An easy fix and see if the problem goes away.
Just because the engine cranks and runs does not mean you have quality grounds and connections. More modern , computer controlled engine management systems run a ground to each sensor. A few 10ths of 1 volt do make a difference.
Connections need to be clean , tight , and mechanically sound. Wire splices and terminations need to done right. The toothed lock washers cut into the metal , paint is not a conductor. Silicone grease they sell at the auto parts for light bulbs is a good addition to inhibit corrosion in the future.
I confess that I even ran a ground wire from the grounding stud on the altenator to the panel the voltage regulator was mounted on. Remember I now have the internal regulator style alternator but ground is still vital.
I am a retire electrician . One motto is , " If you can't fix it with a hammer, it must be elctrical."
If electrical is a mystery there are good books on the subject. I have several books by Tony Candella , on basic automotive wiring. Purchased on Amazon.
amazon.com/Automotive-Wiring-Electrical-Systems-Workbench/dp/1932494871/ref=sr_1_1?crid=3EUGP80HQ7O3Z&keywords=automotive+wiring+and+electrical+systems&qid=1576221706&s=books&sprefix=automotive+%2Caps%2C803&sr=1-1
There are 2 volumes and a EFI conversion book.
Thanks again David!!
Your welcome!
UFO-LOW has a good point that the battery should be in good condition and fully charged to be able to evaluate the charging system.
Every thing JFB said is spot on and the schematics are good to see the circuit.
The connections on the factory amp meter are known to get over heated and burnt . A peak at them is worth while. Remember to take the battery cable off when in the sub dash. It is "hot" and not fused!
Until you examine and repair all the connections in the charging circuit , you might be wasting money to just throw parts at the situation.