Both preservation and conservation refer to maintaining the condition of somethings that is prone to degradation by time.
However, their use is totally different.
Conservation refers to the effort to keep something in good condition by doing the repair work of a particular piece or collection of items which had degraded from time, elements, and use.
For example, an old book or painting may need conservation work to restore its condition while maintaining the original statue.
Conservation also refers to the sustainable use of natural resources including wildlife, water, air, and earth deposits. Iin this sense it includes factors of energy management, both renewable and non-renewable.
Preservation, in contrast to conservation, focusses on preventative measures that prevents property items from degrading and maintain it in their present condition.