Yes, two or more versions of the MPLAB® XC8 Compiler can be installed on the same machine. For example, you can have XC8 v1.10 and XC8 v1.20 Compilers installed on your machine.
Compilers will be automatically installed into a directory that is specific to each compiler version. So under Windows, for example, the XC8 v1.10 and XC8 v1.20 compilers would typically live in separate directories.
To select which compiler will actually be used when building a project under MPLAB X IDE:
Open Project in MPLAB X IDE » Right Click on Project Name » Properties » Under Compiler Tool-chain » Select the Compiler version to use » Press OK.