I want to start out in the right direction of tracking my now local thermostat. I use venstar local api. I want to have a long term history to see performance declines potentially over time so like cloud of honeywell stored data for a long time. I would like to do the same in HA and be able to go back and review data from years back. Then plot these on graphs in different manner. Sure this will be a start for the furnace but other sensor information may come up as a need. So would want this to be future proof.
#Best way to track and graph long-term usage?
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Anything you want stored long term, just make sure it is enabled for long term statistics (a sensor with a state_class). Those values will keep forever.
If you want more control over the data and graphing I'd recommend grafana and a time series database like InfluxDB or VictoriaMetrics.
Are these items I should install standalone outside of HA to decrease load on VM?
Like if I do grafana should I also install it in its on VM and same for Influxdb?
That choice is yours. If you use HAOS you can use it as addons.