In a large pot over medium high heat, cook the Bacon (8 slice) until crispy, for about 5 minutes. Remove to a paper towel lined plate. Remove bacon fat from the pan.
Melt the Butter (6 tablespoon) and add Yellow Onion (1/2 cup) and cook for 3-5 minutes or until crisp-tender.
Whisk in the All-Purpose Flour (6 tablespoon) and cook for a few minutes.
Add Chicken Broth (3 1/2 cup) and whisk until the flour has dissolved. Add the Whole Milk (2 cup), Garlic Powder (1 teaspoon), Salt and Pepper (to taste). Mix everything to combine, and add the Russet Potato (2) and give it a good stir. Lower the heat to low, cover and simmer for 20-25 minutes.
Add the Sharp Cheddar Cheese (8 ounce) and stir until is melted, turn the heat off and stir in Sour Cream (1/2 cup) and cooked bacon. Serve right away.