Most flat roofs are not perfectly sloped, causing water to puddle in some areas, in particular around the drains and scuppers. Many roof coatings are not rated or warranted for "ponding water", and thus might fail pre-maturely if exposed to standing water over long periods of time. Serious consideration should be given to the performance and limitations of the coating being selected. Some manufacturers will warranty their coatings including ponding water. Typically, manufacturers for acrylic roof coatings do not include warranties for ponding water, while some polyurethane and silicone roof coatings manufacturers will.
I recently did a remodel project for my basement using spray foam insulation. The original builder has used fiberglass, but I wanted the best insulation i could find. We chose closed cell foam because it blocks moisture from getting into the house. It took one day to install and was fumey for about 3 hours. It was pretty cool watching it being done. It comes out as a liquid and then expands rapidly into a foam. It's quick! Then they took a types of saw to shave it flat with the wall studs so we could then go ahead and drywall.
Spray foam insulation is typically priced by volume, meaning your cost will depend on how much material you need to use to insulate your space, although other factors may influence price as well. In most cases, the cost of spray foam insulation is more than worth it, as it's a once and done upgrade that will not only provide energy savings in your home, but also improve your home's overall comfort.
Polyurethane is a closed-cell foam insulation material that initially contains a low-conductivity gas in its cells.[5] As a result of the high thermal resistance of the gas, spray polyurethane insulation typically has an initial R-value around R-3.4 to R-6.7 per inch.[5] In comparison, blown fiberglass typically has an R-Value of only R-3 to R-4 per inch.[6]
c) Make sure that the over expanded access is properly removed from the walls. We had a junior cutter taking too much off by bending his saw into the cavity. Look closely at the inside wall corners, and ceiling/wall corners to make sure that the foam is properly removed flush with the studs. If it has not been cut back flush it may lead to uneven drywall finishes .
This is more common with closed cell foam, but it happens with open cell foam, too. Since closed cell foam has a higher R-value per inch, installers generally spray 2" in walls and 3" in rooflines to meet the energy code requirements of R-13 and R-19, respectively. (I'm not going to dive into the energy code here, but these numbers apply to many climate zones, the latter being allowed under the UA tradeoffs rule. See the Energy Nerd's blog on this topic if you want to argue.)
One thing I wanted to mention was that I think your price point is a little high and that might deter people from considering spray foam. As a project manager for a spray foam company for years I can tell you that we offer 0.5 Lb. open-cell foam at around $.25/board foot. We even offer a 1.0 Lb. open-cell foam for less/the same cost as you quoted the 0.5 Lb. foam for above. The 1/0 Lb. open-cell foam has an R-value of almost 5.

Some states, municipalities and utilities have programs. Check with your coatings manufacturer for further information. As a membership benefit, RCMA provides maintains a database of current information on rebates and tax credits for installing reflective roofs. RCMA’s customized search tool can be used to find the most up-to-date listings of reflective roofing financial incentives available.

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