Quite likely (but it obviously depends on what the load is)!it shows around 18V! Is it dangerous to the load equipment as it requires only 12V?
The cap will charge to the peak voltage (18V in your case). That's normal. It is also normal for the voltage to drop when the power unit is loaded. That's why regulators were invented! Without one you can't rely on it dropping to 12V.Or is it normal as the capacitor being charged? Maybe the voltage will become 12V when it connect to a load