In a large pot, add the diced potatoes and chicken broth. Bring to a boil and cook until tender.
In a separate pan, sauté the onions until soft and translucent.
Add the cooked onions to the pot with the potatoes.
Reduce the heat and stir in heavy cream, sour cream, salt, pepper, and garlic powder.
Use an immersion blender to blend the soup until smooth.
Stir in shredded cheddar cheese until melted and well combined.
Serve hot, garnished with bacon and green onions.