We added more insulation instead as well as completely removing the heat pumps, ac furnace and ducts and it made a world of difference.
We built our house in 2000 and we did the complete overhaul/upgrade of the AC and furnace in 2005 (appx $20,000) but worth it. The builder used 2 units that were not big enough to support our house. We had electric bills averaging $700.
After we re-did everything, we added a lot more insulation as well. Since we did this, we've had no electric bill over $400. We are not stingy with the AC system, etc... The thermostat is never higher than 78 in the summer, most of the time, we keep it on 75.
As for radiant barrier, we thought hard about that. After speaking with our AC guy (very trustworthy), and other sources, we found out that sometimes the radiant barrier will void a roof warranty.
SO, before you do it, make sure it will not void the warranty on your roof.
Good luck.