The Chinese petrochemical industry is facing pressure to meet strict targets of energy consumption and carbon emission reductions. Water pumps are the primary equipment used in most chemical and agrochemical industries sectors since water is commonly used for cooling and heating purposes, but these pumps also consume a large amount of energy. Other uses of water pumps in these industries include producing steam for heating, preparing reaction media or absorptive reagents, rinsing products, and distilling. As for the electrical components of the water pump systems, current technologies of variable frequency drives and superconducting transmission lines are unable to increase the energy efficiency of these systems with a fixed load. However, the Balanced Wave Technology (BWT) is offered as a solution to overcome these limitations. In this report, a case study using a BWT optimizer is conducted on a closed loop water circulation system. Two BWTs are added to the individual motor-controlled section of each pump that is being used on the switchboard. For the first time, a detailed example was provided on how to implement option B of the International Performance Measurement and Verification Protocol (IPMVP) in China by evaluating the performance of BWT as an energy conservation measure. The evaluated periods included those of the baseline, post-installation, and actual performance of the optimizers. An average saving of energy of about 10.46% is recorded in a 5-week reporting period. On this basis, that annual electricity saved is estimated to be 66,447.18 kWh, which is equivalent to the emission of 68.94 metric tons of CO2e. This case study demonstrates in detail how option B of IPMVP can be implemented for BWTs applied on pumping systems. In addition to petrochemical production plants, other industries like textile and clothing sections, which are heavy users of water and electrical energy with fixed loads in the production processes of raw materials, fiber, yarn, and fabric, as well as textile-dyeing and final treatment, could benefit from applying this new technology.