Yes, the idea of ceding to the power company (in exchange for a credit / rate reduction) the ability to turn off your power in whole or part is well known and i

Yes, the idea of ceding to the power company (in exchange for a credit / rate reduction) the ability to turn off your power in whole or part is well known and is called "Demand Response" https://en.wikipedia.org/wiki/Demand_response https://en.wikipedia.org/wiki/Demand_response