We explore a new class of braneworld models in which the scalar curvature of the (induced) brane metric contributes to the brane action. The scalar curvature term arises generically on account of one-loop effects induced by matter fields residing on the brane. Spatially flat braneworld models can enter into a regime of accelerated expansion at late times. This is true even if the brane tension and the bulk cosmological constant are tuned to satisfy the Randall-Sundrum constraint on the brane. Braneworld models admit a wider range of possibilities for dark energy than standard LCDM. In these models the luminosity distance can be both smaller and larger than the lu- Within the conventional framework, 'phantom energy' with w < −1 is beset with a host of undesirable properties, which makes this model of dark energy unattractive. Braneworld models, on the other hand, have the capacity to endow dark energy with exciting new possibilities (including w < −1) without suffering from the problems faced by phantom energy. For a sub-1 class of parameter values, braneworld dark energy and the acceleration of the universe are transient phenomena. In these models, the universe, after the current period of acceleration, re-enters the matter-dominated regime so that the deceleration parameter q(t) → 0.5 when t ≫ t 0 , where t 0 is the present epoch. Such models could help reconcile an accelerating universe with the requirements of string/M-theory.