The nonprofit group Civic Nation tells Axios exclusively it's launching the "Save on Clean Energy" campaign to educate Americans about tax benefits and other savings available under the landmark climate law the Biden administration enacted in 2022.

Why it matters: The partnership, which includes the Department of Energy, marks a shift in the administration's strategy to publicize the Inflation Reduction Act's benefits.

Zoom in: The far-reaching campaign involves more than 40 groups and messengers, Civic Nation tells Axios.

• United Way, Carrier, Sunrun, and a bipartisan group of mayors from around the country signed on as partners, and advocacy groups like Climate Power, the League of Conservation Voters and Rewiring America did too.

Between the lines: The creation of this campaign is a tacit admission that so far, the public is insufficiently aware of the benefits of the IRA.

• That's an election-year political problem for the Democrats, and it could hinder the law's effectiveness in lowering the country's greenhouse gas emissions.

How it works: Campaign partners will hold events, share resources and announcements, and conduct grassroots organizing around new clean energy tax credits and rebates.

• The intent is to help spread the word through trusted messengers in communities, including schools, community-based organizations and more.

Zoom out: Civic Nation includes many veterans of the Obama White House, making it a comfortable fit for the Biden administration.

• Former Obama senior adviser Valerie Jarrett heads the board, which includes other former high-ranking Obama officials. Civic Nation CEO Kyle Lierman is also an Obama veteran.
• The organization previously conducted COVID vaccine outreach campaigns, nonpartisan voter registration drives, and more.

The big picture: According to the DOE, the new tax incentives and rebates contained in the IRA could save Americans approximately $38 billion on electricity bills by 2030.

• John Podesta, President Biden's top climate diplomat who also oversees the rollout of the IRA's clean energy provisions, tells Axios the hope is that more people will tap into the cost savings available to them to electrify their homes with solar panels and purchase more energy efficient appliances.
• For example, the home energy tax credit provides incentives for purchasing heat pumps, which use far less energy than standard HVAC systems.
• Podesta said it took time to roll the programs out but thinks people will take advantage once they're aware of them. "These rebate programs, because they were new and because they were based in the states, they were sort of complicated to get them up and running," he says.

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Boldface names in climate VC are staking Graphyte, a young startup that says it unlocked a comparatively cheap carbon removal method using biomass.

Why it matters: Backers say the tech has a clear pathway to commercial scale, and it provides a durable and readily monitored form of removal.

Driving the news: Graphyte this morning will announce close of a $30 million Series A deal co-led by Prelude Ventures and Carbon Direct Capital.

• The Bill Gates-led Breakthrough Energy Ventures and Overture are two existing investors also taking part.

How it works: Graphyte takes materials like timber and farming residues that would otherwise release carbon via burning or decomposition.

• They dry it out to prevent degradation, compress it into blocks wrapped in protective barriers, and store them underground with sensors.

What they're saying: Prelude managing director Matt Eggers said Graphyte's tech is "incredibly scaleable," and sees a clear path to getting costs well under $100 per ton of CO2.

• It doesn't rest on "technology miracles," said Eggers, who tells Axios its first facility is close to $100 already. "It's getting toward a really breakthrough cost."
• "This can go anywhere and it can use almost any sort of biomass and in fact, it can use mixed sources of biomass, [there's] nothing that really has to be done other than dry it," he said.

What's next: The company, founded in early 2023, says the cash will help launch four removal facilities in 2025 and 2026.

• It will also support growth of a recently opened project in Arkansas it says will reach a capacity of 50,000 tons of annual removal early next year.

Yes, but: The removal industry remains young and far away from the gigaton-scale needed to become a major weapon against climate change.

The intrigue: The Biden administration backs carbon removal in various ways, but Graphyte's jeopardy from a change in Beltway control could be limited.

• One reason: its method is among the many that don't qualify for climate law removal credits.
• And Eggers said today's buyers of removal services won't stop, "because they believe it's coming no matter who is in the White House for the next four years, and because they believe it's the right thing to do."

The bottom line: The startup hopes to be stashing away over 5 million tons per year by 2030.

"Graphyte aims to be the largest durable carbon dioxide removal supplier in the world," CEO Barclay Rogers said in a statement.

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💵 BP is raising dividends 10% and announced go-ahead of a big deepwater Gulf of Mexico oil project slated to start producing in 2029.

• State of play: The news came as BP reported Q2 earnings today that beat expectations. CNBC has more.

📉 The decline in oil prices is adding a dash of drama to the upcoming OPEC+ meeting on Thursday.

• Why it matters: The group intends to start unwinding some production curbs next quarter but has emphasized that its plan is flexible.
• State of play: Brent crude prices fell under $80 per barrel yesterday, their lowest levels since early June.
• What they're saying: ClearView Energy Partners, in a note, sees the group hoping to maintain prices above $80. OPEC+ could use Thursday to "reiterate that its production targets are fluid and can change based upon market conditions at any time."

🛒 The Energy Department is buying another 4.65 million barrels for the Strategic Petroleum Reserve, part of an ongoing replenishment of the stockpile.

• Why it matters: Historically large releases after Russia invaded Ukraine had left the SPR well below its capacity.
• How it works: Since then, DOE said it has used "windows of market stability" to buy over 43 million barrels for an average U.S. price of $77 each. Go deeper.

China's global power in EV markets is increasingly about brains, not just brawn, a new analysis finds.

Why it matters: The Information Technology & Innovation Foundation report looks beyond vehicle and battery exports, finding that Chinese firms have equaled or surpassed the innovation and quality of Western peers.

State of play: ITIF offers metrics and case studies to illustrate Chinese progress, such as battery chemistry improvements by firms like Gotion and CATL, and digital and vehicle material advancements by EV makers.

• It also looks at Chinese scientists' increasing publications in top auto engineering journals.

The big picture: China produced 62% of the world's EVs and 77% of EV batteries in 2022, and vehicle exports grew 851% from 2020 to 2023.

The bottom line: The report offers lots of ideas for U.S. policymakers such as expanding today's pro-EV policies with more R&D support and tougher penalties on Chinese goods aided by IP theft.

"It's the most intriguing, exciting, scary thing going. And you're going to have to spend trillions on upgrading the grid. The implications are vast."

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