In recent years, the peak–valley differences in urban power loads have been increasing. It is difficult to maintain the real-time balance of a power system by relying solely on the generation-side resources. As a typical flexible load, an air conditioning load can balance the supply and demand of a power grid by adjusting power using the thermal inertia of buildings. From the perspective of a load aggregator, this study models and aggregates the dispatch of a single inverter air conditioner distributed in a region to determine the adjustment potential of an air conditioning cluster. Then, according to the demand response capacity requirements, an optimal strategy for the aggregate dispatch of an inverter air conditioner considering incentive compensation measures is proposed with the objective of maximizing the load quotient economic benefit. The sensitivity analysis of the compensation factor for temperature rise is also performed. The results show that 3000 inverter air conditioners in the load quotient dispatch area participate in the demand response for 4 h, with a load reduction of 1.267 MW and a net income of RMB 14,435.97. Secondly, an increase in the temperature rise compensation factor will reduce the cost of temperature rise compensation by the loader to the user, but it will also reduce the load reduction and the net income of the loader. This study has practical significance for load aggregators to formulate compensation strategies and improve the economic benefits of participating in demand response.