Green hydrogen is becoming an increasingly important energy supply source worldwide. The great potential for the use of hydrogen as a sustainable energy source makes it an attractive energy carrier. In this paper, we discuss the potential of producing green hydrogen in Jordan. Aqaba, located in the south of Jordan, was selected to study the potential for producing green hydrogen, due to its proximity to a water source (i.e., the Red Sea). Two models were created for two electrolyzer types using MATLAB. The investigated electrolyzers were alkaline water (ALK) and polymeric electrolyte membrane (PEM) electrolyzers. The first model was used to compare the required capacity of the PV solar system using ALK and PEM from 2022 to 2025, depending on the learning curves for the development of these technologies. In addition, this model was used to predict the total investment costs for the investigated electrolyzers. Then, a techno-economic model was constructed to predict the feasibility of using this technology, by comparing the use of a PV system and grid electricity as sources for the production of hydrogen. The net present value (NPV) and levelized cost of hydrogen (LCOH) were used as indicators for both models. The environmental effect, according to the reduction of CO2 emissions, was also taken into account. The annual production of hydrogen was 70.956 million kg. The rate of hydrogen production was 19.3 kg/s and 1783 kg/s for ALK and PEM electrolyzers, respectively. The LCOH was 4.42 USD/kg and 3.13 USD/kg when applying electricity from the grid and generated by the PV system, respectively. The payback period to cover the capital cost of the PV system was 11 years of the project life, with a NPV of USD 441.95 million. Moreover, CO2 emissions can be reduced by 3042 tons/year by using the PV as a generation source, instead of fossil fuels to generate electricity. The annual savings, with respect to the reduction of CO2 emissions, was USD 120,135.