Electrical Gremlins!

Hey guys last few rides I’ve gone out I started seeing my battery light coming on. The machine is a 2006 Sportsman 500efi. Clearly some where along the line I have a charging issue.

To begin I used a multimeter to check the voltage on my battery at idle and its around 13.2-13.6. As I revved the ending up while still checking the voltage, it drops down to 7-8v.

To me it sounds like my machine the past few rides had been running solely off the battery to a point, and is not being charged.

What should be my next step? My thoughts were stator, but I’d like to hear more about things I’m unfamiliar with as well like; rectifier, regulator ect.

Any help would be greatly appreciated.