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

No, that is not the same thing at all. Not even close.

A rolling black out is an involuntary action. It is also an action that results in total loss of power, hence the term "blackout."

https://en.wikipedia.org/wiki/Rolling_blackout