We are not significantly close to practical fusion as a commercial energy source. They've been stalled for a while. Inching forward with magnetic containment systems and laser ignition and other interesting technologies, but even if we crash poured trillions into development there's no reason to believe they will crack the problem.
You got the new "cold fusion" guys, but while one hears curious rumors it seems just as likely that's just a gimmick or a noncommercial effect, and nodody I know of in the energy industries is willing to say "well, we should look at it".
I always hoped for fusion too.
There are all kinds of interesting research projects going on - I keep hoping one or more of the promises will come to fruition. But year after year goes by and none of the promises makes it to the marketplace in any practical way.
Yesterday metafilter linked to the
wave disk engine. Sounds great, right? Well over the years I've seen many such things that sounded great, but they never come to the market.
Magnetohydrodynamics for example - one of my all time faves - huge news in the energy community years ago - never came to anything.
Recently I saw an article about a carbon dioxide based supercritical fluid generator that sounded like it might be based on magnetohydrodynamics, or at least an improved phase-change turbine. Sounds great. An alternative to the steam turbine. Will we ever see it? I bet we won't.