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I was enjoying the warm weather and so I started up my car. It is a 2001 Z06. I noticed when I revved the engine that the headlights would dim. I set up a cheap alternator tester. The test lights were normal when it was idling, normal when revved, but the voltage from the alternator dropped when the RPMs dropped back to idle, then it ran normally again. I revved it several times watching the tester and each time was the same.
Is this a problem with the regulator inside the alternator?
Always check your battery itself before worrying about anything else in a case like this. Shut the car off, let it sit a few minutes, then read the battery voltage across the terminals with a multimeter.
If you don't have 12.6-12.7 Volts there, then you should suspect the health of your battery. Disconnect the negative cable from the battery, charge it up to the above voltage and let it sit overnight. A good battery will hold that charge very closely overnight (should be little or no drain).