California has a system for this too. They put an extra box on your compressor that allows the utility to shut it off longer but in return you get a discount on your summer bills (whether or not they actually use it).

The steepest discount is something like they can shut it off for up to 6 hours per "event" and you get $180. They have other ones though like up to 15 minutes every half hour for up to 6 hours total and you get $90.