Powers was the most watched premiere on the Playstation Network, and the rest of the season apparently did well, so it makes sense that Powers was just renewed for a second season. According to The Hollywood Reporter, that's just the case. John Koller, vp platforms marketing at Sony Computer Entertainment America had this to say:
The reception to Powers has been incredible and we are thrilled to have successfully launched a platform for original content with the PlayStation gamer in mind... We believe original content will continue to be a key pillar as we broaden the value proposition for PlayStation Plus, and we’re excited for what’s to come with season two of Powers.
No news yet on when the second season is coming, but we'll keep you updated.