Heat olive oil in a large pot or Dutch oven over medium heat. Add the onion and cook until softened, about 5 minutes.

Stir in the garlic and cook for another minute until fragrant.

Add the vegetable broth, potatoes, salt, and pepper to the pot. Bring to a boil, then reduce heat and simmer for 15-20 minutes, or until the potatoes are tender.

Carefully transfer the soup to a blender (or use an immersion blender) and blend until smooth. Be cautious when blending hot liquids.

Return the soup to the pot. Stir in the heavy cream or milk. Heat through, but do not boil.

Stir in the shredded cheddar cheese until melted.

Ladle the soup into bowls. Top with crumbled bacon, green onions, a dollop of sour cream, and extra cheddar cheese, if desired. Enjoy!