Bryan,
Don't feel so bad my bill is $600 this month, but I run the house at 72 all the time and have 2 AC units. On top of that, I keep my spa boiling hot and this bill doesn't even account for the new tank!
A couple of things:
1. Edison is just a plain rip off. When we lived near you, our house was 1,500 sq ft. and our bill was $300 to $400 regularly.
We had all the same things there, that we have at our new 2,500 sq.ft house which is in the San Diego Gas Electric territory. Our power is about 25% less now. Why?? Because Edison is a rip off!
Unfortunately, there's not much you can do about your rates.
2. You should consider reducing your photo period, and you'll save some there, but I really don't think that it's your tank.
3. AC units are notorious for being inefficient POWER SUCKERS.
AC units have efficiency ratings called SEER. The higher the SEER rating, the more efficient it is. You should check your rating on your AC unit. It's usually on the badge.
I think it is now illegal to sell AC units in California that are under 10 SEER. The highest SEER units I have seen are 18, but you end up paying extra money for them.
I'm considering changing our 2 AC units to higher efficiency Trane AC units. I'd like to get 14 SEER units or higher.
I've also been considering getting solar panels. They're an expensive initial investment, but there are several state rebates depending on the power company rules, and in some cases I have heard that you can sell power back to them at the higher rate that they are charging you.
It can make some real sense in Southern California where it's almost always sunny, and just think FREE POWER.
You could run everything on all the time and not feel bad about it.