Watts
For an overview of energy conservation with Vera see Intro_Energy_Conservation.
There are a few ZWave devices that are tell Vera exactly how much energy they are using. Then Vera can log the real, live energy usage. But, most ZWave devices, like light switches, do not measure the energy usage. So, on the Devices tab in Vera's setup page, you can click the '+' button next to each device and tell Vera how much energy the device uses when it's on by putting the energy usage in the "Watts" field.
Most devices have the number of Watts they use printed on them. For example, a 60 watt light bulb uses 60 watts. If you put '60' in the Watts field for a field, then Vera will assume the device is using 60 watts when it's on full brightness, or a percentage of 60 watts if it's dimmed to a lower level. Note that you may have a ZWave switch that controls several lights. The value you put in the Watts field should be the sum of all the lights on the switch. So if a switch controls four 60 watt overhead lights, in the "Watts" field for that switch put in 240. Lights default to 100.
For thermostats, the Watts consists of 3 numbers separated by commas. The default is 1500,1500,300. The first number is how many watts are used when the thermostat is in 'heat' mode, the second is how many watts are used when the thermostat is in 'cool mode', and the third number is for the 'fan only' mode.