Use of bioresources in energy production sector besides its positive effects to the climate change mitigation and greenhouse gas reduction generate additional environmental load associated with management of combustion process waste. Effective use of such wasted materials as biomass by-products might improve life cycle environmental performance of the biobased fuels and energy. In this study, bioenergy production by-products were proposed as electrocatalysts for H2 generation via water electrolysis process. To analyse suitability of the by-products (biomass ash) as electrocatalysts a technique for order preference by similarity to ideal solution (TOPSIS) is applied. Results of the study shows that the catalysts based on proportion 25% of straw ash and 75% of wood ash are evaluated as the most efficient for hydrogen production through water electrolysis, however additional efforts need to be done for improvement of H2 production efficiency if compared with traditional metal based catalysts.