This video by Technology Connections talks about how window awnings can greatly help cool your home.
Another thing I want to add is that window awnings can protect windows. We get pretty big hail here, and (wood or aluminum) awnings can save your window glass. I have also heard of “Clamshell Awnings” which are on hinges, so you can remove the poles and lower the awning to cover and protect windows in extreme weather.
Lastly, here are some old window awning ads for your entertainment (from Wikimedia commons)
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I don't make retractable awnings. China makes retractable awnings. I would expect the average cheap awning to last 3 to 5 years on the high end. A quality awning will last more, and you'll pay more. A permanent awning like on a business will be thousands of dollars, depending on size. Per window. I'm talking about custom work, not off the shelf.
I’m thinking there might be differences across the pond. They are fairly common in europe. Blinds make the heat inside and mostly just deals with light. If your windows are not standard size you'd need custom blinds. And now screens are coming, doing both the work of blinds and awnings