This article discusses the relationship between water conservation and the Drinking Water State Revolving Fund (DWSRF) and how, as a result of this relationship, conservation can be regarded as having a potential role in the context of infrastructure funding, capacity development, affordability, and other key provisions of this landmark law. Discussed are conservation guidelines, how conservation planning may be funded, and how conservation provisions benefit the DWSRF, including how they: help stretch limited public funds; can affect facility planning; can be a measure of capacity development; avoid unnecessary costs; go hand in hand with source water protection; and, contribute to integrated planning. Includes 6 references, tables.