Amazon has some 120v ball valves. Get one that auto closes when power is off. Then when your timer cuts power to the compressor the ball valve also loses power and closes.
That's an option. For my purposes, I used a 24V ball valve for a few years before it jammed up on me. That was the cheapest way out of the gate, and to be fair I was using it on my compressor at 180 PSI, when the valve was only rated for 145 PSI (1.0 Mpa).
The problem with motorized ball valves is that most don't allow you to operate the valve manually, whereas the add-on devices can be bypassed, so when my valve died, I had no compressor until I replaced it. I don't know if external valve operators come in 120V, but that may not matter. If you setup a WiFi one with the app, they can work with their own timers.
Not a shopping recommendation, just where I'd start looking:
Can't you use an oversized solenoid?
It certainly should be sized correctly, but solenoid valves require pressure drop for the diaphragm to operate, so if you oversize it too much, it might not even work reliably. They're designed to have 2-5 PSI drop at 50% rated flow and may not operate at all below a 1 PSI drop, so you may be losing 15 PSI at your impact wrench to have a valve that can also run something that merely sips air (say an air brush).
The other issue with a solenoid valve is power use. They come in NO or NC, but if you're hypothetically operating the valve for 12 hours a day, both options will be powering the solenoid for 12 hours and that can add up to real electric costs. An NC valve opened when the lights are on should usually be cheaper, but ball valves only run the motor when they're moving, and draw nearly nothing otherwise.
This small 1/2" valve for example uses 20W (and a bigger valve would use more; my compressor has a 3/4" valve):
At 8 hours a day / 5 days a week, that's $9 a year in electricity for me, where a ball valve may only be a few cents.
