Cheap insulation. Is there such a thing?

Actually you could even build a water recovery system, IE gutters into a tank which acts as the source for the sprinkler. A giant swamp cooler. There are "some" commercial buildings which have similar schemes. I thought about doing that one time, run say, a 3/4" pvc on the roof line drilled full of holes with a small pump. Would not take much.

Below, example, is or was the then new Penny's store at University Shopping center in Spokane. I used to maintain the AC on that roof a giant PITA. It had an expensive rubber membrane roof, covered with round river stones and was uncomfortable as 'ell to walk on. But it retained about 1" of water which acted as a giant cooling device.

Hey, Rob, you guys have some smart people here on the A Body board, take their advice! Evaporative cooling system, heck, as a test, you could run a garden hose up to the roof and literally connect it to enough sprinkler to cover most of the roof. It'll work. Water recovery system - take a roof leader and dump it into a 55 gal drum or a spare garbage can. Drop a submersible pump in there in the 30-50 psi and 2-3 gpm range would do fine.

Honestly, I would try this before paying for a roof coating. You may find that if you do it yourself and buy wholesale, the roof coating might be well within a reasonable price range, but if you get this to work, this could make it unnecessary and cost maybe an afternoon of work and very little money.

FAR less labor and FAR less operating cost than insulating the shop and running an A/C all summer.