This study comprehensively evaluates the system performance by considering the thermodynamic and exergy analysis of hydrogen production by the water electrolysis method. Energy inputs, hydrogen and oxygen production capacities, exergy balance, and losses of the electrolyzer system were examined in detail. In the study, most of the energy losses are due to heat losses and electrochemical conversion processes. It has also been observed that increased electrical input increases the production of hydrogen and oxygen, but after a certain point, the rate of efficiency increase slows down. According to the exergy analysis, it was determined that the largest energy input of the system was electricity, hydrogen stood out as the main product, and oxygen and exergy losses were important factors affecting the system performance. The results, in line with other studies in the literature, show that the integration of advanced materials, low-resistance electrodes, heat recovery systems, and renewable energy is critical to increasing the efficiency of electrolyzer systems and minimizing energy losses. The modeling results reveal that machine learning programs have significant potential to achieve high accuracy in electrolysis performance estimation and process view. This study aims to contribute to the production of growth generation technologies and will shed light on global and technological regional decision-making for sustainable energy policies as it expands.