Update: you can find the full patch notes here and all the new season 2 features here.
Renown grind will be a thing of the past in Season 2. Rewards will carry over when completed on any prior character!
Blizzard at Gamescom revealed more details about Season 2 and the quality-of-life improvements we can expect to see in the game starting October 17. One particular change is tied to the tedious Renown grind.
The community will be pleased to learn that rewards including potion charges, skill points, obol cap upgrades, and Paragon points will carry over when completed on any prior character in the upcoming season.