The global energy demand is on the rise due to population growth and economic progress, primarily fueled by fossil fuels contributing to greenhouse gas emissions. Renewable energy sources offer a sustainable solution, with hydropower, wind, solar, and biomass leading the way. However, the fluctuating output of renewables poses challenges in energy supply and demand balance, which can be addressed by utilizing hydrogen as an energy carrier. Hydrogen production, particularly green hydrogen produced through electrolysis, holds immense potential in transforming energy production, storage, and transportation. The shift towards renewable energy has made electrolyzer costs a primary concern, emphasizing the need for technological innovation to enhance efficiency and performance. Policy implementation is crucial to drive the scale-up of green hydrogen projects and achieve cost reductions. Despite advancements, challenges like the high cost of electrocatalysts based on platinum-group metals and the need for further research to improve electrolyzer performance remain. This review focuses on the importance of green hydrogen in the energy transition, emphasizing the role of electrolysis and electrocatalysts in advancing renewable energy integration.