Here's what you should do:
1. Don't ignore it: Reduced engine power is a serious warning. Driving with this light on can lead to further engine damage, reduced fuel economy, and potentially dangerous driving conditions.
2. Check your owner's manual: Your owner's manual might offer some initial troubleshooting steps or guidance, though it likely won't provide a fix.
3. Get your vehicle scanned for diagnostic trouble codes (DTCs): This is the most crucial step. A mechanic, an auto parts store (like AutoZone or Advance Auto Parts – they often offer free code scanning), or even a sophisticated OBD-II scanner can read the codes stored by your car's computer. These codes pinpoint the specific problem causing the reduced engine power.
4. Address the underlying problem: Once you know the DTCs, you or a mechanic can identify the issue. Possible causes are numerous and vary depending on your vehicle, including:
* Faulty sensor: Oxygen sensor, mass airflow sensor, throttle position sensor, etc.
* Problems with the fuel system: Low fuel pressure, clogged fuel filter, fuel injector issues.
* Ignition system problems: Spark plug issues, ignition coil problems.
* Exhaust system problems: A leak or blockage.
* Transmission issues (in some cases): This could manifest as reduced engine power.
5. Repair the problem: Once the issue is identified, it needs to be repaired by a qualified mechanic or yourself (if you have the skills and tools).
Simply unplugging the battery or using a code reader to clear the codes without fixing the problem will only temporarily turn off the light. The underlying issue will remain and could worsen. The light will likely come back on, and you risk serious engine damage.
In short: Get it diagnosed and repaired. Don't try to "fix" the light; fix the problem causing the light.