Error occurred in deployment step Recycle IIS Application Pool

This is the most annoying error in deploying a solution to SharePoint via Visual Studio. There are many reasons behind this error. It could be permissions, server configuration. So, I am planning to write all solutions here. :)

Complete Error Details:
Error occurred in deployment step 'Recycle IIS Application Pool': 0x80070005Access denied.

Solutions:

1. Visual Studio should be running as Administrator. (As the solution is deploying to the server and which requires the admin privileges we must run as Administrator)
2. User must be a local administrator on the server and should be a member of WSS_Admin_WPG. (Should need access to control IIS and App pool recycling operations)
3. User must have owner (db_owner) access to the SharePoint Content database. (To deploy the package and activate feature at site collection level) 
4. User must be a part of Farm Administrators group. (Adding solution package to FARM)
5. Finally, check the current user is a site collection administrator on the site which the solution is deploying to. (This is very important!)

Hope you are good to go after following all the above instructions. Happy deploying!