Success Story - NextEra

Challenge

The Inflation Reduction Act (IRA) drove significant revisions to 2023 credit forms, adding new reporting requirements expanding eligibility for clean-energy tax credits and the ability to transfer credits to 3rd party taxpayers. The changes significantly increased compliance complexity, requiring companies to track and report every credit sold—by facility, credit type, and buyer—across multiple IRS forms (8835, 3468, and 3800).

For NextEra Energy, the nation’s largest renewable-energy producer, the scale of reporting increased dramatically. In 2023, more than 13,000 facilities generated credits, resulting in over 700,000 individual data points to report in multiple sections of the affected forms.

As NextEra’s reporting volume surged, their process began pushing system limits; existing tools simply weren’t built for that scale. The team used enhanced form grids to copy and paste data, but each batch was slow to load and hard to align. Form layouts and location-code limits added more complexity, forcing extra manual checks to ensure accuracy.

With executive leadership closely tracking the new credit sales program—and transactions expected to rise fivefold in 2024—the team began looking for a more automated, scalable approach.

“We could see the process would become unsustainable as volumes grew,” said Allison Browning, Manager, Federal Compliance. “We knew Corptax could help us find a better way.”

Solution

NextEra and Corptax partnered to evolve a new method for managing credit-form data. After raising the issue during a CONNECT 2024 roundtable, the NextEra team collaborated with Corptax Development and Support teams to prototype and test an import-template process designed specifically for clean-energy credit reporting.

While Corptax refined the new import-template process, NextEra developed an automated pipeline linking its Business Warehouse data to Corptax. Using Alteryx, the data was reformatted to match the template structure, enabling fast, reliable imports through Corptax Data Import functionality.

“The first time we hit the button and everything loaded in minutes, we couldn’t believe it,” said Browning. “The Corptax team was incredibly responsive—we refined the process together and it worked flawlessly.”

Before loading, the team reviewed data in Excel to verify identifiers and date logic. After import, they used Corptax reports to confirm clean results. The new approach replaced hours of manual work with instant, reliable uploads—bringing a new level of speed, accuracy, and confidence to every filing. What started as a proof-of-concept became a model process now available to other clients managing high-volume filings.

Results

The collaboration delivered measurable efficiency and long-term scalability:

• Reduced manual effort by more than 800 hours, transforming a multi-week task into minutes per upload

• Scaled from 13,000 facilities in 2023 to 45,000 in 2024 with no additional staff

• Delivered audit-ready accuracy under executive-level visibility

• Freed time for strategic analysis instead of manual data handling

Working closely with Corptax, we built a repeatable, scalable process that keeps pace with our growth,” Browning said. “It’s fast, reliable, and ready for what comes our way.”

The joint effort not only advanced NextEra’s automation goals—it helped shape a new import-template capability now simplifying reporting for Corptax clients across multiple industries.