Energy-efficient bimetallic electrode nanocomposite materials for membrane electrode assemblies for alkaline water electrolysis (AWE) have been developed. The nanomaterials are studied by atomic force microscopy, scanning electron microscopy, and high-resolution transmission electron microscopy. The energy efficiency of hydrogen and oxygen generation is estimated on a test stand for AWE. The optimal load of platinum metals and the temperature conditions of the operation of the membrane electrode assemblies are determined to reach a higher current density, a longer lifetime of the alkaline water electrolyzer, and the lowest hydrogen and oxygen overpotential. This work demonstrated that membrane electrode assemblies for AWE can be made of porous nickel electrodes modified with platinum–nickel and palladium–nickel bimetallic nanoparticles.