1988 Mercury Black Max 150 Regulator

Hey guys, looking for some help regarding this issue im having with my boat. The volt meter reads 16+ volts when up around 3000rpm, on the gauge on the dash and i also have a digital volt meter that reads the same, which to me eliminates the gauge itself. I suspect its the voltage regulator. However This is the only regulator i can find:

https://www.ebay.com/itm/VOLTAGE-REG...-/252789682238

My question is, my motor has a seperate rectifer and regulator. So would this unit replace both and take the place of both? And if so, how would i wire it up? I plan to get my battery tested first just to verify it is the regulator before i purchase anything.

It's probably just your regulator that's faulty but worth replacing both like this. I've done this exactly to my old merc - works nicely. You'll just have to crimp connectors on some wires to suit. It wires in the same as your old rectifier does. Yellow wires are the AC power in from the stator, Red wires are the 12-14v DC output (I crimped my red wires together to bolt them to the big + terminal on the starter solenoid). Grey is your tach signal, and the new regulator grounds thru its case so make sure its got a nice solid connection to the motor. Here's how I mounted mine

Attachment 419243