Origin Energy has seen weaker demand for rooftop solar PV installations in the first half of the financial year but while that weakened its non-commodity businesses, it had little impact on its strong profit result.

The energy group reported a net profit of $794 million in the six months to December 31, an improvement on the $136 million loss from last year – which was impacted by write-downs.

Revenue for the non-commodity businesses reduced by $77 million or 36 per cent “reflecting lower installations of rooftop Solar Photovoltaic (PV) systems,” the company advised. Profit for the division fell from $31 million to $18 million.

“Policy changes, including changes to the Renewable Energy Certificate multiplier and feed-in tariff scheme in NSW, had a significant impact on demand over the period. Consequently, Origin completed 10,606 installations compared with 18,028 in the prior half year.”

Origin is the largest installer of rooftop solar PV in Australia.

The company is heavily focused on its Australia Pacific LNG project, but said it possessed the “flexibility to build low-carbon emission and renewable generation or contract renewable energy from other producers.”

“Domestically, we are pursuing exploration opportunities in and around current petroleum permits, as well as in wind and geothermal,” CEO Grant King said. “Internationally, opportunities include the potential development of geothermal resources in Chile and Indonesia, development of the Purari Hydro Project in Papua New Guinea, and exploration for gas in New Zealand, South East Asia and Kenya and CSG in Botswana.”

Origin added that the opportunity to develop an electric vehicles business “continues to grow”. The company was recently announced as the exclusive charging partner for Nissan Australia, while the trigeneration business is currently pursuing a number of key contracts.