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A/C compressor is done. I don't really use it and I know they make a bolt on pulley kit for many cars that replaces it and lets the stock belt work for a lot less than an new compressor.
I have never seen or heard of such an appliance for a Volvo. By the time that you install the appliance, you could have changed the compressor. If you unplug the compressor then the clutch will freewheel anyway.