On October 16, 2012, RAP Associate Edith Bayer presented on US experiences with energy efficiency obligations at a conference in Budapest, Hungary, The Energy Efficiency Directive: Implementation in Hungary and Business Opportunities. The conference, organized by MEHI, the Hungarian Energy Efficiency Institute, focused on the requirements of the new European Energy Efficiency Directive, international experiences with energy efficiency obligations, and opportunities for Hungary. Ms. Bayer presented the key features of an energy efficiency obligation, showed specific examples from US and international experience, and described how obligations drive the energy efficiency market. She highlighted methods for designing effective energy efficiency obligations that support cost-effective efficiency improvements, benefitting customer bills, the power system, and the economy. The resulting employment benefits span a range of market sectors, while efficiency obligations encourage market growth, including small and medium business development.