Toronto-based Ecobee announced its all-new smart thermostat, the Smart Thermostat Essential.

The Smart Thermostat Essential joins the Enhanced and Premium models, giving customers a third thermostat option.

According to Ecobee, the Essential is designed to have comfort and convenience features at a lower cost.

One of the highlighted features is that the thermostat can adapt to any household’s routine, maximizing energy while people are away and maintaining comfort while people are at home.

Ecobee’s app, available on both the App Store and Google Play Store, allows customers to control the temperature of their home from anywhere. It also allows alerts to be sent directly to the customer.

Using the app, people can create a schedule and have different settings for when they’re home or away.

If the Essential is paired with Ecobee’s SmartSensors, the thermostat will keep the most used rooms comfortable.

According to Ecobee, customers can save up to 23% on annual heating and cooling costs, compared to a hold of 72°F/22°C.

Ecobee also announced their new feature called Home Energy Reports, which allows customers to see insights into their home’s energy usage related to heating and cooling. It will also give tips on how to improve and save more money.

The Essential will be able to function with most major smart home systems, including Amazon Alexa, Apple HomeKit, and Google Assistant.

The Essential will release to stores in March, and will retail for $129.99 USD (roughly $186.54 CAD).

Images credit: Ecobee