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If it rises about 14.4v (+/-) a bit, then the regulator is FUBAR.
Modern alternators generally provide about 13.2v idle, but as soon as the revs lift about about 1000, the output will run to 14.2/14.4v which is a proper charging voltage.
Nova's are prone to losing the earth from the alternator to the block, when that goes, you don't get a light on, just no charging.
They also have a habit of losing the earth from the gearbox to the chassis too. When that goes, the loom tries to make up for the lack of proper earth, leading to overheating looms and smokey bonfires!
Old original Nova alternators provide about 13.6-13.8v at "average revs" and about 14.2-14.4v at higher revs (4000+) from memory. Their regulators weren't that brilliant at regulation.
Earths on old cars are often the cause of all sorts of electrical woes - like not starting, or not charging. Lights that go screwlally, and best of all, impossible to trace misfires!
Going back to the light, what you see there is a difference between alternator output and battery terminal voltage. If the Alternator output is lower than the battery voltage, the light will be on.
Mrs C612DNM's old poxy Zafira had an alternator fail, the light didn't come on with that. The power steering packed up, then the lights all dimmed, and it all stopped! Oddly enough, after turning it all off for a few minutes, it came back to life and worked again!! That was partly earth related too, perhaps the flakey earth contributed to the regulator failure?
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As above, my guess is it's earth related.
Give the g/box to chassis leg earth a good yank & check it isnt about to snap. I had one that came apart in my hands. The car wouldnt turnover & some of the dashlights were on even when the car was locked (no keys in ign)
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When you have been out some where and go back to your car after the engine has cooled down, if you feel the alternator and its warm that could mean its draining power from your battery, had that problem with my old car.
Not sure where you would get one, ebay prehaps other wise scrappys but its not often you get novas in them and when you do there quickly stripped
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Alternator was knackered chap who took it apart said parts of the inners were melted oooops. Reconed for £30 and all aorted now