The authority is authorized to provide for the conservation of the air, land and water resources of the state by the prevention or reduction of the pollution thereof and proper methods of disposal of solid waste or sewage and to provide for the furnishing of water facilities and resource recovery facilities and to provide for the development of the energy resources of the state, to provide for energy conservation and to provide for energy efficiency projects and increased energy efficiency in the state, and to further such programs the authority is authorized to acquire and construct, and finance projects and to issue bonds and notes and make loans as herein provided to pay the costs thereof. Any pollution control, sewage or solid waste disposal, resource recovery, energy conservation or energy efficiency projects shall be in furtherance of applicable federal and state standards and regulations.