Electrification of the road transport sector likely includes both battery electric (BEV) and hydrogen fuel cell electric vehicles (FCEV). Integration of energy carriers is described as a route forward for efficient integration of renewable energy. The objective of this work is to determine cost‐efficiency improvements with co‐localization of BEV and FCEV stations, and how this impacts optimal sizing of the photovoltaic (PV) production and battery storage. Grid‐connected co‐localized charging/filling stations, situated north of Oslo, Norway, are modeled in HOMER Pro and HOMER Grid. PV production is modeled using PVsyst and a snow loss model to analyze the effect of snow shading on PV production. Demand data for BEV and FCEV are synthesized based on historical traffic data (year 2015–2019) to represent three different cases of BEV/FCEV distribution. Results indicate that co‐localization, i.e., the integration of energy carriers for BEV and FCEV, leads to a marginal cost‐efficiency improvement of 0.1–1.4%, depending on BEV/FCEV distribution and cost assumptions. Co‐localization shows greater benefits for the integration of locally produced renewable power. Due to co‐localization, the cost‐optimal PV capacity is either increased or PV power export is reduced. Stationary batteries are also observed to cost‐efficiently perform peak shaving in a future scenario.