Set a 6-quart Instant Pot to saute; add bacon and olive oil. Cook, stirring occasionally, until bacon is crisp, about 5 minutes.
Remove bacon with a slotted spoon; and set aside. Press Cancel to reset Instant Pot.
Pour bacon fat mixture into a bowl; and set aside.
Add 1 cup water and 2 teaspoons salt to Instant Pot. Place trivet in Instant Pot.
Pierce potatoes with a fork; place on top of trivet in Instant Pot. Place top on Instant Pot; twist to seal and lock. Turn Steam Release Valve to “sealing.” Set Instant Pot to cook at High Pressure for 15 minutes.
After cooking is complete, let pressure release naturally (approximately 10 minutes). After that, manually release the pressure by turning the Steam Release Valve to “venting.”
Carefully remove potatoes from Instant Pot; place on a rimmed baking sheet.
Set oven to broil. Brush potatoes with reserved bacon fat mixture; sprinkle with remaining 1 teaspoon salt and pepper.
Broil, turning as needed, until skin is crispy, about 5 minutes. Split potatoes open; top each with a pat of butter. Serve with cheese, sour cream, green onions, and reserved bacon.
Notes
To ensure even cooking, make sure you select evenly sized potatoes.
This recipe was tested with medium-sized potatoes (about 10 ounces each); if your potatoes are larger, increase the cook time by 2 minutes.
Be sure to pierce the potatoes with a fork several times before placing in the Instant Pot. This will prevent the potatoes from exploding during cooking.
You can simplify this recipe even more by skipping the bacon step, and start by placing the water, trivet, and potatoes in the Instant Pot.
To make this recipe a meal, top the potatoes with shredded pork or chicken (click for recipes).
For a gourmet version of a Baked Potato Bar, trade the sour cream for crème fraiche, the bacon for skillet-crisped prosciutto, the green onion for chives and fresh dill, and use good- quality salted European butter, such as Plugra or Kerrygold.