The United States' focus on decarbonization has spawned interest among policymakers in deploying water electrolysis technology for clean hydrogen production. However, water electrolyzers also raise concerns regarding their substantial use of carbon-intensive materials. Here, we conduct a comprehensive life-cycle analysis (LCA) of three prominent water electrolyzer technologies to investigate the environmental implications of their manufacturing and life cycles under different energy sources. All electrolyzer technologies employing low-carbon energy (nuclear, solar, or wind) exhibit life-cycle greenhouse gas (GHG) emissions of 0.3–2.4 kg-CO2-eq/kg-H2. This is significantly lower than the corresponding GHG emissions for hydrogen production via both conventional steam methane reforming and alternative autothermal reforming with carbon capture and storage (by > 50%). The well-to-gate GHG emissions of low-carbon electrolyzers (0–0.36 kg-CO2-eq/kg-H2) qualify for Tier I of the production tax credit in the U.S.’ Inflation Reduction Act of 2022, indicating their suitability for producing decarbonized hydrogen under this program.