Thanks for your questions. Renewal is a English world which means “To Make new again”.

According to the oxford dictionary, renewal meaning is 
Renewal is an instance of resuming something after an interruption.

As for example: When you purchase a Internet Package from any mobile operator, you will get a few days validity. After this validity, your connection will be interrupted. If you want to continue this package, then you need to recharge your purchase  amount of money. If you recharge before  interruption, you will get extra validity to use instantly, and this is called renewal.

In a word, Renewal is the action of extending the period of validity of a licence, subscription, or contract.

Example: Recently there’s been a renewal of interest in this form of climbing.

Use of the word Renewal

Renew
 to increase the life of or replace something old.
Example: Every year I renew my Domain and web-Hosting.

Renewable:
If this product is renewable, then it’s use can be continued for an extra period of time

Renewed: Your web hosting has successfully Renewed.

Renewal notice : I have got a renewal notice from my insurance company.

Renewables: The transition from carbon-intensive energy sources like wood, coal, and oil to natural gas and renewables, is well underway.

Renewal option: Renewal option is the right to continue an agreement for an extra period of time.
Example: It is a 20-year lease with a five-year renewal option.

Renewal premium: The word “Renewal premium” is generally used in Bank and Insurance . Renewal premium money that you pay to make an insurance agreement continue for an extra period of time.
Example: It may be possible to save as much as 30% on a renewal premium by shopping around.

Renewable energy:
The word “Renewal premium” is generally used in NATURAL RESOURCES, ENVIRONMENT.
Renewable energy that is produced using the sun, wind, etc., or from crops, rather than using fuels such as oil or coal:
Example:
the renewable energy industry
renewable energy projects/sources/technology
With sky-high energy prices and increased demand for renewable energy, developers are taking another look at tidal power.

Thanks.