Not enough permissions to install service

Question

I have the following declaration of my service:

Answer 1

Yet another reason while this common error will be thrown:

If there is an invalid ServiceConfig element below the ServiceInstall element.

Most probably this will apply to any invalid child element of ServiceInstall.

Answer 2

I had the same problem, it was caused by an earlier version of the service still running on the system. To fix this launch an elevated command line prompt and type:

 SC delete NameOfService