I thought WD-40 was non-conductive as we used to spray it into distributors when we thought there was enough moisture in there to prevent the engine from starting. WD-40 does leave a film, some people I know feel that film attracts dust and dirt don't think I'd want that in my alternator. Like John said use electrical contact cleaner to clean, I don't know if they make any electrical cleaner with a corrosion inhibitor, my guess is no because the inhibitor will leave a deposit on the contact and you don't want that. The real answer might be just to run the thing a couple times a month for 5-10 minutes, the brushes will clean off the small deposit it might get, on top of that it'll keep the engine fresh and ready to respond when you need it.
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