Nest began selling a new smart home thermostat today for two-thirds the price of its flagship model.

Called the Thermostat E, it costs $169—$80 less than the third-generation version of the original Learning Thermostat. Nest says the Thermostat E will be available to order from major retailers on Sept. 1; the company will begin shipping its new smart thermostat on Sept. 10.

The price-point play follows similar moves by thermostat manufacturers Ecobee and Honeywell, which over the past year have introduced lower-priced versions of their original Nest competitors.

“The new price is at the low end of a lot of the other smart thermostats we’re currently testing,” says CR test engineer Peter Anzalone, who runs CR's thermostat lab. “From what we’ve seen so far, the third-gen Nest is the most automated of the bunch.”

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The Nest Learning Thermostat, which debuted in 2011, disrupted a sleepy product category by introducing design sensibility and user-friendly functionality as it simultaneously jump-started interest in the nascent smart home market.

The product’s promise and influence was underscored by Google parent company Alphabet’s decision in January 2014 to buy Nest Labs for $3.2 billion.

Nest says the new thermostat has almost all of the same functionality as the higher-priced version, including the ability to control it from a free smartphone app and by voice command through virtual assistants Alexa and Google Home. The company claims the Thermostat E can pay for itself in two years based on energy savings earned from its ability to automatically adjust the temperature when the house is empty or the household is asleep.

One of Nest’s big selling points has been that its thermostat will work with a two-wire heating or cooling system, without the need for a dedicated third wire, or C-wire, to supply power to the device’s rechargeable battery. This configuration, while do-it-yourself friendly, might inadvertently cause some systems to cycle on and off repeatedly, damaging the equipment.

According to Nest, the E model is compatible with 85 percent of HVAC systems, excluding those with whole-house humidifiers or more than three stages of heating or cooling.

As for the look of the E model, it has the same form factor as the original—but a radically different aesthetic. Its control ring is white and it has a frosted-white screen with a resolution of 320 x 320 pixels (compare that to the original iPhone’s 320 x 480 pixels). While the numbers on the display are illuminated, the frosted lens could make them difficult to read for some.

“The frosted display was specifically designed to deliver the best of both worlds,” says Nest spokesman Matt Flegal. “Customers who want clear, simple information about what’s happening on their thermostat when they need it, and a subtle look and feel that blends into the background when they don’t.”

That’s assuming your walls are white.

CR is currently testing more than a dozen smart home thermostats. We plan to purchase the Nest Thermostat E and run it through our entire testing protocol.