Seems like less than $1/day is probably worth it to have hot water available everywhere. If you used something like an occupancy sensor to turn the circulation on, you could cut that cost down without compromising the convenience (and possible code issues). A timer might not work best to account for nighttime maintenance crews, or the occasional late night operations.
A typical residential system would probably not be using 1" pipe, or have as far to pump things, so the costs would be lower since there'd likely be less pipe length to radiate heat and the WH temp might be lower than your are running.





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