Retrieving the COM class factory for component with CLSID {00024500-0000-0000-C000-000000000046} failed due to the following error: 80070005 Access is denied. (Exception from HRESULT: 0x80070005 (E_ACCESSDENIED)).

Hi Team,
I am using Windows 8 Pro IIS 7.5 .net framework 4.5.

Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code. 
Exception Details: System.UnauthorizedAccessException: Retrieving the COM class factory for component with CLSID {00024500-0000-0000-C000-000000000046} failed due to the following error: 80070005 Access is denied. (Exception from HRESULT: 0x80070005 (E_ACCESSDENIED)).
Source Error:
Line 734:        Excel.Application oXL = new Excel.ApplicationClass();
Line 735:        Excel.Chart oChart;
Line 736:        Excel.Series oSeries;

Source File:  D:\test ...