Let me take a stab in the dark... you are reading FICM voltage with some type of scanner right?

Im still leaning towards FICM, but I'll wait for your reply to the question above.

How did you read the battery voltage? They really should be load tested.

 

ok im getting48v key on and starting then 37v running.. if there a fix other than send it in or spend $500 on a new one?

 

Mdub fixes them

 

You can't get a new one for $500... new FICM from Ford is $900 + programming. They sell half shells for $400...