Had a similar headache in my van build — running a Victron Orion-TR Smart 24/12-70 to step down from my 24V Fogstar Drift lithium bank to feed the 12V leisure circuits, and noticed the output was consistently sitting about 0.4V shy of what I'd dialled in on the Victron Connect app.
Turns out my cable run to the load was doing most of the damage — classic voltage drop across undersized wire over a longer-than-ideal distance, compounding whatever the converter itself was already trimming off internally.
Few things worth checking if you're seeing something similar:
- Cable gauge vs. run length (the Victron cable sizing guide is genuinely decent for this)
- Whether your Orion is in standalone or connected mode — behaviour differs
- Remote sensing, if your unit supports it (spoiler: the non-Smart versions don't)
- Actual measured voltage at the load vs. at the converter output terminals — those two numbers will lie to you differently
Mine ended up being a combination of 6mm² cable where I really needed 10mm², plus a dodgy Anderson connector I'd bodged together at 2am in a layby somewhere near Cheltenham (don't ask).
Bumped the output compensation up slightly in VictronConnect and re-did the cabling properly and it's been rock solid since.
Anyone else running a dual-bank setup with a DC-DC converter as the bridge between different voltages? Curious whether others have found the Orion plays nicer with lithium than AGM in terms of charge curve consistency — my old AGM setup was considerably more dramatic about the whole