A new page has recently appeared on the Tesla web site, entitled “What is Powershare Grid Support“. In answer to that question Tesla state that:

With Powershare, your Cybertruck can support the electric grid when needed and earn you money. In participating regions listed below, Powershare Grid Support allows your vehicle to send energy back to the grid during high-demand energy events. For each event where you send energy to the grid, you’ll receive credit on your energy bill while helping your community’s energy resilience.

The “participating regions” currently consist of:

Texas and California (coming soon)