Today, designing a green hydrogen production process under an optimal, efficient, and economical configuration is one of the priorities of energy systems engineers. This research aims to explore the application of electricity produced by the steam Rankine cycle (S/RC) and Organic Rankine cycle (ORC) through biomass-based waste heat utilization in an alkaline electrolyzer (AE) system for the production of green hydrogen. The S/RC unit utilizes high-temperature waste heat, while the ORC system utilizes medium to low-temperature ones from the S/RC to improve overall system efficiency and hydrogen output. The study developed eight distinct configurations of the combined system, employing two organic fluids across four ORC designs. It aimed to assess the influence of integrating a recuperator or/and an OFOH (open feed organic heater), as well as varying the organic fluids, on the ORC unit's hydrogen production capability. A detailed thermodynamic, thermo-economic, and eco-economic analysis was conducted to assess key metrics. The environmental analysis quantified the carbon dioxide (CO2) emission reductions achieved through hydrogen production, using the emission rate from the steam methane reforming method as a benchmark. This approach underscored the environmental benefits of the AE system for hydrogen production. Further, the study quantified the financial gains from CO2 reduction, referred to as carbon credit gain (CCG), through an eco-economic analysis. From the outcomes, the highest hydrogen yield and the lowest LCOH (levelized cost of hydrogen) value were 94.65 tons/year and 1.724 US$/kg, respectively, related to Case (IV)-a (biomass waste heat-based S/RC- Regenerative& recuperator ORC system-AE system under R245fa). Lastly, optimization process for maximizing hydrogen production via the optimization methodology was established.