Why does the 12V output on my LightSaver Max measure less than 12V?
The measured output voltage of the LightSaver Max will be dependent on a few factors. First, the output is generated by a DC-DC boost converter that takes the voltage of the lithium-ion battery pack and increases it to nominally 12V. The converter then regulated the voltage to hold it at 12V. The point at which it regulates is just before the 12V output connector.
With no load on the output, the voltage should be nominally 12V. When powering a device off the 12V output the voltage at your device will depend on how much current is being drawn and how much voltage loss is in the cable assembly connecting the Max to your device. A lighter gauge cable will have more resistance and therefore more voltage and power loss.