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I picked up a fairly high efficiency GE A/C unit from Craigslist for $25. There are tons of fairly recent model air conditioners on Craigslist around here for pennies.
I make an effort to use shades and ventilation to control temperature in my apartment. I only run the air conditioner when I'm uncomfortable. Sometimes I dunk my head in cold water and point a fan at me, and let evaporation do the work.
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