I am studying water splitting on Pt substrates. Is it necessary to use a reference electrode or is it possible to study the system using a two electrode setup where the Pt counter electrode is sufficiently large?
You can measure the impedance without reference electrode using two electrode setup, but you will get the impedance of full system contributing from both the reaction happening at working electrode and as well as counter electrode.
If you want to study only on working electrode then you will need a stable reference electrode so that you can apply a fixed potential on working electrode against reference electrode.
I agree with the previous responses! But what you can do as well is to use a 3 electrodes setup wiith your WE, one CE in Pt and one other REF in Pt. In this case, you will not know the exact potential of your WE vs a known REF electrode (like AgAgCl) but you will stable for your measrurement, especially for high frequencies in your EIS.