Most definitely the alt or voltage regulator at that point
10 volts is terribly low. As I mentioned before; under high drain, with the alt full fielded working its balls off, you shouldn't see ANYTHING less then about 12.5volts. If it's below 11, you can rest assured your alt isn't doing a whole lot to put back the voltage your jeep is taking from your battery. I'm surprised you haven't noticed slower cranking speeds when you start 'er up in the morning :shock:
There is a tiny chance your volt gauge is off due to a poor connection. This would cause a little higher than normal resistance in the volt gauge circuit and cause it to read a deceptively low voltage reading. To dispel this possibility, I suggest getting your hands on a multi-meter (aka VOM, DMM, ect.).
Check the battery voltage when the Jeep is off and note what it's at. Then have an assistant start it (if your lazy like me
) and check to see that the voltage at the battery increases. With everything off and just the jeep running, you should be somewhere in the neighborhood of 13-13.8volts. My jeep runs at 14v. A reading as low as 12.5v could be seen, this just means the battery is fully charged and the alternator isn't working very hard to maintain it.
The next check you can do to ensure your alternator full-fields properly is done while the engine is running. Have your assistant turn on all the electrical crap they can... The headlamps on high beam, the wipers on high, and the heater blower on high should do it. I don't like to turn on turn sigs. or flashers because it causes a rhythmic voltage dip which looks funny on the meter as your watching it. With all of this stuff running, the voltage shouldn't dip below 12.5volts (Especially if it read 13 or so before you put the load on it).
If the voltage falls on it's face when you do the last check (full field test) or if the voltage doesn't increase much or at all when the jeep is started, you can pretty much bet you either have a problem with the alternator itself, or the built in voltage regulator and you'll need to put a new one in. I think these are Jap Denso's or something similar, so they're probably $100+ (I would guess between $125 and $145). That sucks. Good luck and let us know what you find when you test it (or have it tested somewhere if you decide to do that instead)!