Cutting energy costs while keeping cool this summer

The summer heat has certainly been cranking up. And with the air conditioners and fans in full force, so are those electric bills.

So what's the deal with keeping cool and keeping those bills from skyrocketing? A few small changes can make a big difference.

Like so many of us, The Merrick family is trying to beat the summer heat by cranking up the AC.

But their power bill is not so cool.

"I wish that I can say that we had consistent energy saving habits in our house," said Hillorie Merrick.

The merricks say they pay a scorching $3,700 a year in electric bills.

Enter Energy Expert Ben Bixby to find The Merrick family some hidden cash

He says the first way to put money back in your wallet is to replace your old thermostat with a smart one from Nest or Honeywell controlled through your phone.

Ben, Nest's general manager of energy services, says it monitors the family's heating and cooling habits and turns off when not needed, giving them an estimated $173 back this year.

And that's not all. Their old 65 watt lights bulbs were not only making the house hotter, but they were also zapping a lot of electricity.

Switching to new energy saving 9 and 1/2 watt LED's nets them an extra $288 bucks a year

And finally the hot water heater. It's set to a sizzling 145 degrees.

"Its far hotter than it needs to be and that's really costing you a lot on your energy bills," said Ben.

Turning it down just 20 degrees nets them an extra $40 bucks.

All in all, plugging an extra $600 back in the Merrick family budget this year.

Also try reducing how hard your AC has to works by covering skylights and window shades - that saved the Merrick Family an extra $20 a year.