The Italians and Russians are working on a cheaper version of ITER.
Russia and Italy have entered into an agreement to build a new fusion reactor outside Moscow that could become the first such reactor to achieve ignition, the point where a fusion reaction becomes self-sustaining instead of requiring a constant input of energy.Bruno Coppi was an associate of Dr. Robert Bussard (of Polywell fame) when they worked together on the Riggatron concept [pdf].
The design for the reactor, called Ignitor, originated with MIT physics professor Bruno Coppi, who will be the project’s principal investigator.
The concept for the new reactor builds on decades of experience with MIT’s Alcator fusion research programme, also initiated by Coppi, which in its present version (called Alcator C-Mod) has the highest magnetic field and highest plasma pressure of any fusion reactor, and is the largest university-based fusion reactor in the world.
For those of you not familiar with fusion or Polywell, you can learn the basics of fusion energy by reading Principles of Fusion Energy: An Introduction to Fusion Energy for Students of Science and Engineering
Polywell is a little more complicated. You can learn more about Polywell and its potential at: Bussard's IEC Fusion Technology (Polywell Fusion) Explained
The American Thinker has a good article up with the basics.
And the best part? We Will Know In Two Years or less.