http://www.pushhogg.com/energy-saving-air-conditioner-settings/

what wastes more energy on the air conditioner?
my 5000 btu a/c has cool settings from 1 – 10, 10 being the coolest, and it has 2 fan speeds, high and low.
which setting would save more energy for maximum coolness?
low fan but on setting 8 – 10, or high fan on setting 4-6? i find these 2 settings make the room about the same temperature
im just trying to save some money
The numbers 1-10 are a temperature setting, with 1 the warmest, 10 the coolest. Set the temperature to the warmest setting you are comfortable with, as that saves lots of power.
Fan setting has little effect on power, but it makes a lot of noise, so I keep it on low or medium. High may give you a subject feeling of cooler, but **should not ** change the actual temperature, which is controlled by the thermostat. Should not, but sometimes does, as the thermostat is physically located inside the air intake, and a low fan will cause less air to flow past the thermostat and may change it’s reading.
Tips For Enhancing The Performance Of An Energy Efficient Air Conditioning Unit