The ramp-up of electrolysis capacities in Germany is progressing much more slowly than originally announced. An evaluation of the EWI electrolysis database shows that 181 MW of electrolysis capacity is currently installed, while a further 1.3 GW has reached a final investment decision or is under construction. This means that around 1.5 GW could be in operation by the end of 2027. However, the majority of the projects planned for 2025 are experiencing significant delays. Only a quarter of the projects originally announced have been completed on schedule so far. In addition, around 3 GW of planned projects have been removed from the database because they have been cancelled or no progress has been communicated for a long time. The reasons for the slow electrolysis ramp-up include high hydrogen production costs, low willingness to pay on the part of customers, and regulatory uncertainties. Added to this is the chicken-and-egg problem of simultaneously developing supply, demand, and infrastructure.