The following code throws an exception in Powershell V1 (Excel 2007):
$E = New-Object -COM 'Excel.Application' $E.Visible = $True $wb = $E.Workbooks.Add() #<<<Exception here
The error says that the format might be old or that the type library is not valid (translated from Spanish). A similar script for Word works just fine.
Adapted to Powershell from one of the solutions proposed in MS Help and Support Article 320369.
From the same article: