High renewal on domains with hosting is a shady practice by these hosting companies because MOST lay people don't know the difference between domain registration and hosting, so they think they will lose their website if they don't keep the domain name with the same company.
@Paul123 - it's NOT too late to transfer - it is against ICANN rules for a registrar to prevent transfer even AFTER expiry
Get your Auth Code ASAP and start the transfer, there's some specials running yet anything is better than $47! Are you sure they aren't tying that in to hosting renewal as well? I can't quite tell, is weebly a reseller of NetSol? If so you may have to jump through some hoops to get the AuthCode faster.
@TerriJ - start now as well, if your site is up and running and you keep the nameservers the same when transferring the name, you should have no downtime switching the domain registrar. It is only when you switch hosting that you can expect downtime and there are some tricks to make it faster. IMO don't do both at once.