Yes absolutely -- I view sleep paralysis and/or lucid dreaming as amongst the altered states of consciousness in which these experiences become accessible to us. Of course it remains to be confirmed whether the experiences have some freestanding "reality" or not. I think they do since I view the brain more as a transceiver than as a generator of consciousness. But most scientists of the materialist/reductionist persuasion would find such an idea abhorrent and impossible in their reference frame in which the brain is understood to be a generator of consciousness. I think their reference frame is wrong, but proving that will be a long, hard road.
All the best