what needs to be replace when the charge system light comes on in my volvo s60

Sounds like the alternator but you would need to check for ignition power to the alternator and continuity between the alternator cable and battery positive terminal. Turn on the ignition switch to the on but not run position do you see an icon on the instrument panel representing a battery, if you do not see this battery icon the alternator is not seeing power to allow it to charge. Start the engine does the battery icon go out. A more complex but good diagnostic test is checking "voltage drop" on the battery ground and power cables. You can find a video on how to do a voltage drop test on Youtube. Put a volt meter across the battery terminals with the engine off, at rest the battery voltage should be 12.6 volts if the battery is fully charged. Now get a friend to start the car while you watch the voltmeter, the voltage reading across the battery should read approximately 14.6 volts if the alternator is charging correctly.