With record temperatures in many parts of the United States, heating and cooling costs are hitting homeowners right in the bank account.
In addition to extreme weather, electricity prices are on the rise. Average residential electricity costs have increased by more than 42 percent between 2002 and 2012, rising from 8.4 cents to 11.9 cents per kilowatt-hour, according to the U.S. Energy Information
Administration.Heating and cooling costs are a big part of household's budget. According to Energy Star, the Environmental Protection Agency's energy conservation program, the average American household spends more than $2,200 a year on energy bills, with nearly half of this going to heating and cooling costs.