According to the rapid depletion of the fossil fuels, the electricity and hydrogen will gradually take charge of the future energy supply. Especially, in order to control the supply and demand of electricity, energy storage medium is necessary and this could be solved by the combination of water electrolysis and fuel cell. Although electricity can be generated from such alternative energies as hydropower, nuclear, solar, and wind-power resources, alternative energy storage medium is also required since regenerative energies, solar and wind-powers, are intermittent energy resources. In this regard, hydrogen production from water electrolysis was recognized as a superb method for electricity storage. In this work, the current development and economic status of alkaline, solid polymer, and high temperature electrolysis were reviewed, and then the practical use of water electrolysis technology were discussed.