24 is not too much light. Some folks on this forum go 24 hours until at least 3 sets of leaves. I'd run at 18-6 at this stage. They say that 18-20 hours of light per day is the most effective for peppers. I'm not sure where megahot is getting those numbers from, you want to emulate a summer solstice when peppers grow the best, and even surpass that amount of light since you are using artificial lighting. Less than that is only ideal for plants with very particular photoperiods, or folks who have to watch their power bill.
The fans have many benefits as has been said. A breeze helps stimulate a natural environment. It will encourage thicker stem growth and a hardier plant, as well as aiding in transpiration. If you've watered too much, good transpiration is very important, especially in more humid environments. If the plant is taking up more water than it is transpiring you'll end up with edema. Check the undersides of the leaves for pimply looking things to see if you have it, I had a few cases this year that yellowed a bit like yours.
I'll tell you this, it shouldn't be a fertilizer problem this early in the season, and your lower leaves indicate that it is not. Fertilizer problems almost always manifest at the lower leaves first. It looks that the plant is stressed, and overwatered. Your plant looks a bit leggy as well so if anything it's not getting enough light. (Too much light, leaves will start to turn purplish, too little and you will get leggy growth and eventually chlorosis). What light are you using? What are your temperatures like? How close is this plant to the light in comparison to your others?
This very well could be a root problem. I would stop watering entirely and just wait a few days. See what happens. You might get lucky after all. If the plant is getting high temps near the light try moving it away a bit. Good luck!