The energy requirements of the world are increasing at alarming rate. The available fossil fuels and other conventional resources are not sufficient to keep up the pace with ever-increasing energy demand. Also, the use of fossil fuels causes the negative impact on the environment. The solution for all these issues is the development and adaption of the renewable energy resources. The mainstream renewable energy resources such as solar energy and wind energy have sufficient potential to fulfill the world energy demand. However, they are marked down due to their uncertain and intermittent nature. An extremely abundant, promising, and comparatively new source of renewable energy is the marine and hydrokinetic resource. It includes wave energy, tidal energy, ocean and river currents, and ocean thermal energy. Among these, ocean wave energy is being increasingly regarded with the predictable resource characteristics and high energy density value for the significant energy extraction. A framework has been developed in this study to estimate the ocean wave energy potential of the North Carolina based on the National Oceanic and Atmospheric Administration’s (NOAA) five stations and it is estimated as 567 GWh based on the wave data available for the period of 2013-2017. The wave energy production is estimated using the Department of Energy’s (DOE) benchmark models of the wave energy converter. As this is a naïve technology the cost of energy generation is relatively high with an average value of $11.04/kWh. The hydrogen production from the ocean wave energy using the method of water electrolysis can be implicated for storing an excess amount of the energy. The produced hydrogen is used in the various applications and it may help to reduce the integrated system cost. The sensitivity analysis has been performed to analyze the impact of a feed factor to an electrolysis system on the hydrogen potential and cost of the integrated system.