Check the isolation of the motor windings. Should be in the mage-ohms (you need an isolation tester / high voltage ohm meter for this). Check the voltage when the compressor is running. If the voltage drop significantly when the compressor starts/runs, you have a bad connection somewhere.
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[pdf] Rotor clearance issues or debris can lead to metallic contact sounds Loose or worn belts squeal or howl, especially under load Airflow pulsations, valve leaks, or turbulence create hissing or whistling Bolts, nuts, and mounting pads loosen over time, amplifying noise
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