At least historically that hasn't been the case nearly as much as for PV panels.

I unfortunately haven't been able to find great timelines for electrolyzer costs apart from https://www.researchgate.net/figure/Cost-of-electrolyser-tec.... This suggests that costs fell around 50% between 2000 and 2015. Solar panel prices fell around 90% in the same timeframe: https://ourworldindata.org/grapher/solar-pv-prices?time=2000... (and even faster between 2006 and 2021 https://ourworldindata.org/grapher/solar-pv-prices?time=2006...).

Solar cost decreases have been amazing, but for example wind was less impressive and solar thermal didn't scale well.