In this study, we have synthesized facile Cu‐based CuO:Er2O3 nanoelectrode material for energy storage and generation. CuO:Er2O3 nanomaterial was synthesized employing phyto‐extract of Amaranthus viridis L. (AVL) as stabilizing and reducing agents. Spherical‐shaped CuO:Er2O3 nanomaterial was initially employed to study supercapacitor behavior. The specific capacitance of 82.25 F/g was found at 0.5 A/g by galvanostatic charge–discharge, whereas the value of 319 F/g was achieved at 2 mV/s by cyclic voltammetry (CV) measurements. Furthermore, CuO:Er2O3 electrode was investigated for water splitting energy generation potential and revealed an overpotential value of 323 mV at 10 mA/cm2 for hydrogen evolution reaction (HER). However, for the oxygen evolution reaction (OER), an overpotential value of 370 mV was found. The electrochemical impedance analysis revealed the faster flow of electrons and ions, suggesting great conductivity and lower resistance of the fabricated electrode. Thus, current electrochemical results are proposing CuO:Er2O3 as an competent electrode for overall energy‐generating as well as storage applications.