[Pwhoever]

I think that condenser on side is a noise filter like @DenverWinger mentions but not for stereo. It only comes on the SE models IIRC and is for the CB which also only comes stock on the SE.

Now as far as the alternators, there were several years where there was problems with the windings and they were prone to breaking and creating an open circuit/no charge condition. I remember there was a gentleman named Ken Heming who lived just outside Merrillville IN and was well known for his rebuilt and high output Goldwing alternators but unfortunately he passed away not too long ago. I remember talking with him and learned about the winding issue and I believe the 1995 was one that suffered from that. Bad windings and alternator needs to be replaced. It's quite possible that has happened to yours. OEM alternators are usually the best way to go but will set you back about $400 plus shipping. Don't forget to replace the rubber
spacers that fit between the front alternator vanes and engine coupler.

Honda 31100-MT2-015 - ALTERNATOR ASSY. (HITACHI) : MRCycles

www.mrcycles.com

Be very careful about the cheap aftermarket versions. I keep hearing nothing but problems over and over with those.

 

[Pwhoever]

Just to add further, that noise filter won't show up in the diagram for the alternator. It is hidden in the wiring harness diagram. If you look there, it is part #31 but you will also find it is now unavailable.

1995 Honda GL1500SE A WIRE HARNESS | MRCycles

Shop online for OEM WIRE HARNESS parts that fit your 1995 Honda GL1500SE A, search all our OEM Parts or call at 800.359.0567

www.mrcycles.com

Now if you look under wiring harness for the Aspencades, you will see the exact same diagram but you will notice #31 does not show up in the listing. It's in the SE list only...

 

[Pwhoever]

I couldn't recall the years with bad windings but you may be right with 96 or 97 on up. I knew it was a result of moving production from Japan. I can't give any advice on used alternators, that's a buyer beware thing and a roll of the dice. But I will offer advice on the rubber dampers. Make sure to replace all 4. Cyclemax sells a set of them:

Goldwing, GL1500, Alternator Dampeners, Honda, 13534-MN5-020

Goldwing, GL1500, Alternator Dampeners, Honda, 13534-MN5-020

cyclemax.com

When installing, the correct was is for the strap for each pair to face forward into the engine coupler and fit between the vanes inside the engine coupler. Then the vanes on the alternator fit in between each set. Some will install each set with straps on the rear over the vanes inside the engine coupler. Although it will probably work, that's not correct. It might actually make it more difficult fitting the alternator back in and that's hard enough as it is...