No, you only need to renew your Permanent Resident Card when it expires.

The fee to submit the application (Form I-90) is $290, combined with the $80 biometric fee for a total of $370.

If you apply for naturalization six months or more before the expiration date on your Permanent Resident Card, you may not have to apply for a new card.

It begins when you are given official resident status, this date is on your Permanent Resident Card.