If you’re looking for a quick and easy way to lower your electric bill, the solution may be as simple as changing out your thermostat. According to ENERGY STAR, you can save up to $180 each year by installing and properly using a programmable thermostat.

The reason a programmable thermostat can be so effective is because it makes energy saving almost effortless. All you have to do is schedule your thermostat once to have it heat or cool based on your needs. Plan to have it at an energy saving temperature when you’re typically away from home and schedule it to return to a comfortable temperature before you return. By doing this, you never have to sacrifice your level of comfort at home to save energy.

There are two main types of programmable thermostats available.

Basic programmable thermostats

A basic model programmable thermostat probably provides the biggest bang for your buck. It’s relatively inexpensive and offers the possibility of substantial energy savings. A programmable thermostat can cost as little as $20. However, if you want added features such as touchscreen or color display, expect the price to rise.

Programmable thermostats can be programmed to follow a daily or weekly schedule. Most allow at least six temperature settings per day so you can customize your heating and cooling use. You can also manually override the setting without affecting the rest of your daily or weekly schedule.

Depending on the settings you’ve selected, you could save around 10% on your heating and cooling costs with a programmable thermostat.

Smart thermostats

The most advanced programmable thermostats, such as the Nest or Ecobee, are known as smart thermostats. These thermostats actually learn your heating and cooling behaviors. They can sense when you’re home and when you’re not and adjust accordingly to maximize your energy savings. They are also Wi-Fi enabled and can be controlled from your smartphone, tablet or desktop.

Nest conducted a study to figure out exactly how much people were saving with its thermostat. They looked at energy bills from customers in 41 states and compared their energy use from before and after they purchased a Nest. They found that people saved an average of 10-12% on heating and 15% on cooling costs. That amounted to an average savings of $131 to $145 each year.

While smart thermostats can be quite pricey up front—the Nest and Ecobee both retail for $249—the cost could be justified by the savings in the end. In about two years, your energy savings will have covered the cost of the high-tech device. After that, any money you save is just extra money in your pocket.