
erneuern
to replace
To replace something old, worn out, or broken with something new.
Wir müssen die alten Reifen am Auto erneuern.
We need to replace the old tires on the car.
to renew
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to replace
To replace something old, worn out, or broken with something new.
Wir müssen die alten Reifen am Auto erneuern.
We need to replace the old tires on the car.

to renew
To extend the validity of something, such as a contract, an ID, or a subscription.
Ich muss nächsten Monat meinen Reisepass erneuern lassen.
I need to have my passport renewed next month.

to renew
To repeat a statement, demand, promise, or criticism in order to emphasize it.
Der Politiker erneuerte sein Versprechen, die Steuern zu senken.
The politician renewed his promise to lower taxes.
The word is made up of the prefix 'er-', the adjective 'neu' (new), and the ending '-n'. It literally means 'to make new' and is an inseparable verb.
Die Stadt will den alten Marktplatz komplett erneuern.
The city wants to completely renovate the old marketplace.
The object of the verb makes the meaning clear. A physical object is replaced ('das Dach erneuern' — to replace/renew the roof), a document is extended ('den Pass erneuern' — to renew the passport), and a statement is repeated ('die Kritik erneuern' — to renew the criticism).
Die Firma erneuerte ihr Angebot nach den Verhandlungen.
The company renewed its offer after the negotiations.
In the sense of 'ersetzen' (to replace), 'erneuern' (to renew/replace) is often used for building parts or worn-out things in a house. Typical phrases are: 'das Dach erneuern' (to replace/renew the roof), 'die Fenster erneuern' (to replace the windows), 'die Heizung erneuern' (to replace the heating system), or 'die Leitungen erneuern' (to replace the pipes/wiring).
Nach dem Wasserschaden mussten wir den ganzen Fußboden erneuern.
After the water damage, we had to replace the entire floor.
When it comes to official documents, the construction 'etwas erneuern lassen' (to have something renewed) is often used. This emphasizes that you are not carrying out the renewal yourself, but that an authority or service provider is doing it.
Ich muss dringend meinen Führerschein erneuern lassen.
I urgently need to have my driver's license renewed.
to replace / reimburse
Ersetzen and erneuern can both refer to replacing an old or broken object with a new one. Ersetzen generally means that something else takes its place, while erneuern emphasizes updating or improving the same object. Use erneuern when the object continues to exist as a renewed version.

Die Stadt erneuert die alte Brücke mit modernen Materialien.
The city is renewing the old bridge with modern materials.
Die Stadt ersetzt die alte Brücke durch eine neue.
The city is replacing the old bridge with a new one.