I will focus on the engineering aspects versus the economics, but do note that economics and regulatory (environmental, etc.) considerations are of major importance for considering a project like this. Presumably this is addressed in your proposal.
To the "engineering" aspects, you may install a unit that will parallel (synchronize) with your incoming feed and reduce your power draw fom the utility, but there are some major considerations beyond the obvious benefit of saving on power bills. The most obvious, as mentioned by electricpete, is what happens when the utility goes off line. Clearly, the auxilliary generator must be disconnected from the grid to prevent backfeeding. This can be accomplished pretty easily with relays.
However, if you want the aux generator to supply power to any loads during the utility outage, a dedicated switchgear section is usually required. There are numerous ways that this may be accomplished, from the extreme case (you have unlimited money like the government, you think like NASA, and you desire triple redundancy) to the simple approach (you have done so much with so little for so long that you can now do anything with nothing!). If you are interested in more on this I may be able to start the discussion in the direction of suggested approaches.