I am planning to move to Europe before the end of 2015 and wanted to know if it is possible for an early renewal of my passport. That way I don't have to stress about it for another ten years?
The concept of passport renewals in Italy was abolished and doesn't exist anymore. What happens now is that you get a brand new passport with a ten-year validity from the date of issue. Quoting from the Italian Police website:
Il passaporto è rilasciato ai cittadini italiani e ha durata decennale. Alla scadenza della validità, riportata all'interno del documento, non si rinnova ma si deve richiedere l'emissione di un nuovo passaporto.
See my other answer on the topic for more details.
Having said this, you can obtain a new Italian passport at any moment you wish, regardless of the expiry date.
You can get the passport extended
di proroga se dalla data di rilascio del passaporto non sono ancora trascorsi 10 anni; (extension if the date of issue of the passport are not yet passed 10 years)
In general, typically you can renew any time, I did it in Hungary, there's How long before expiration can you renew a US Passport? for the USA. It's your loss for getting less years out of the fees you pay if you renew early.