98 GT Alternator will not charge battery.

I’ve got a 1998 GT with the 4.6L, and about a month ago I started having issues with my charging system. I started out by doing some looking through these threads and found it may be the voltage regulator. Changed it out for a new one, no change. So I kept digging and did some multimeter tests. Battery voltage starts out at 12.6 (fully charged) with vehicle off. I start it and it drops to 11.4ish and rapidly dies from that point. I’ve since replaced the alternator, battery, redone wiring. Now I’m still getting no charge, but this morning I left the car on charge overnight. Went out to check on it and I smelt a burning smell. Felt my alternator and it was HOT to the touch!?! Vehicle off, ignition off, what could cause this?? Brand new alternator as of yesterday evening. I don’t know what to do, where to look, or what to check. If anyone knows anything or has an idea, please help me out!!

Pinellas50 said:

Does the alternator charge warning light illuminate on the gauge cluster when you first turn the key to the run position before starting? If the mini bulb in the gauge cluster is burnt out, the alternator will never charge.

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No it does not, BUT I read this on another forum. So I replaced the bulb, no change. Then put a new dash in it, no change. Now I’m believing it’s that wire that runs from the alternator into the dash, but I have no clue where to start chasing that down.

nickyb said:

Is there a megafuse?and did you check it?
I replaced my 3g alt. And still didn't charge ,it was a burnt megafuse.

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I have been unable to find a mega anywhere in the alternator circuit. I’ve looked endlessly as that was the first thing that had came to mind.