Farmers who wish to conserve rainwater during the wet seasons will soon be able to apply for a grant from the Farming Equipment and Technology Fund (FETF) to help them purchase rainwater harvesting tanks.
In this blog post, we guide you through how the FETF works, new items that have been added to the productivity list and details of an upcoming webinar on 12 March 2024.
What is the Farming Equipment and Technology Fund (FETF)?
The FETF provides grants that help to finance capital equipment that can bring improvements to three areas of farming:
- productivity equipment
- slurry management
- animal health and welfare
These three categories are a new feature of the FETF for 2024, allowing you to apply for one grant from each category. As the maximum grants for productivity and slurry management are £50,000 each and the maximum for animal health and welfare is £25,000, you could potentially win up to £125,000 in grant funding.
The FETF for 2024 has just been announced with a wider range of productivity equipment falling within its scope – further FETF grant guidance can be found on the Government’s website.
How does the FETF work?
The FETF is a competitive fund scheme, where applications for grant funding must be submitted within an application window. Once these have been scored, The Rural Payments Agency (RPA) allocates funding to successful applicants based on their scores. However, the funding allocated may not cover the full amount applied for, and some applications will be unsuccessful.
What does productivity equipment include?
While a full list of productivity equipment is available on the Government’s website, items that are still considered eligible for grant funding include rainwater harvesting tanks.
How are applications scored?
Applications for productivity equipment (the category that covers rainwater harvesting tanks) are scored on three criteria:
- the productivity benefit of the equipment
- its environmental benefit
- its level of industry adoption.
What if my application is successful?
If your productivity equipment grant is successful, you will receive between £1,000 and £50,000 of grant funding. This will be a percentage of the total cost that will contribute to:
- the average cost of a rainwater harvesting tank of that specification, if you pay the same as or more than the expected average cost
- the full cost of the rainwater harvesting tank that you purchase, if you pay less than the expected average cost
How do I apply for FETF?
A new Farming Investment Fund (FIF) application service has been created to make FETF grant applications easier. Applicants will need to register for the FIF application service to access FETF funding when it is launched.
How can I find out more?
Tanks-UK supplies a large selection of rainwater harvesting tanks suited to agricultural use. For more guidance on the best tank for your needs, contact us at 01953 665940 or email sales@tanks-uk.com to get in touch with our expert team of advisors.
The Government is also hosting a webinar on 12th March 2024 to outline the FETF in greater detail and give you a chance to ask questions. Click here to register for the webinar.