There is a glorious future awaiting the redeemed. Although God's primeval creation of the heavens and the earth is eternal (note Psalm 148:6, etc.), these are now groaning in pain under the effects of sin and the curse. When the Lord returns, they will be "delivered from the bondage of corruption into . . . glorious liberty" (Romans 8:21), and God will make them all new again, with all the scars of sin and death burned away by His refining fires (2 Peter 3:10).
There are four explicit references in the Bible to these "renewed" heavens and earth. In addition to our text, which assures us that they will be so wonderful that this present earth and its heavens will soon be altogether forgotten, there is the great promise of Isaiah 66:22: "For as the new heavens and the new earth, which I will make, shall remain before me, saith the LORD, so shall your seed and your name remain." Thus, that heavens and earth will remain eternally, and so will all who dwell there, with their true spiritual children. Note also that both God's "creation" and "making" powers will be applied to the new heavens and new earth, just as they were to the first (Genesis 2:3).
The third and fourth references are in the New Testament. "Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness" (2 Peter 3:13). Not only will no sin be present there, neither will the results of sin and the curse. "And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; . . . And God shall wipe away all tears from their eyes; and there shall be no more death, neither sorrow, nor crying, neither shall there be any more pain: for the former things are passed away" (Revelation 21:1, 4). HMM