The residential sector accounts for around 24% of the total electricity consumption in India. Recent studies show that air conditioners (ACs) have become a significant contributor to residential electricity consumption. Further, it is predicted that by 2037, the demand for ACs will increase by four times due to their affordability and availability. Not many studies have been found on residential AC usage patterns and the factors (AC load, setpoint, hours of usage) that influence household electricity consumption. This paper investigates the residential AC usage patterns and AC’s contribution to total residential electricity consumption. Twenty-five urban homes from a wet and dry climatic region of India were monitored for nine months (in 2019) to determine overall household electricity consumption patterns, AC usage, and indoor environment during summer, monsoon, and winter. Analysis of seasonal consumption patterns shows a significant difference in electricity usage between homes with ACs and homes without ACs during the summer season. The average electricity consumption for AC homes was 15.1 kWh/day during summer, 6.6 kWh/day during monsoon, and 6.1 kWh/day during the winter season. Results showed that AC alone contributed to 39% of the total household consumption in summers. The peak AC usage in all homes is observed during sleep hours which was generally between 10:00 pm and 6:00 am and the average AC runtime was 6.2 h. The average indoor temperature was recorded as 26.9 °C during the AC ON period. The AC peak load, i.e., the maximum electricity demand during the AC ON period, is 1.7 kW on average during the study period. The average annual consumption of homes with ACs was 2881 kWh, and for non-AC homes, the consumption was 2230 kWh. Findings from our analysis provide a detailed understanding of AC consumption profiles and the difference in electricity consumption characteristics between AC and non-AC homes across different seasons.