Cook corn and remove from cob. Place in boiling water for about 10 minutes or until fork goes easily into kernel (see video for directions on cutting the corn off the cob in NOTES).
Cook turkey bacon and set aside.
Add onion to large soup pot with a little oil and cook until it is caramelized, about 8 minutes. Add red pepper. Then add garlic, water and chicken bouillon.
Bring mixture to a boil, stirring constantly, then stir in corn kernels (setting aside 1 cup) and potatoes. Add in thyme and bay leaf and season with salt and pepper to taste. Bring to a light boil, then reduce heat to medium-low and allow to simmer, stirring occasionally, until potatoes are tender, about 20 minutes.
With a slotted spoon, remove as much of the potatoes and vegetables as you can and blend in food processor or blender until smooth. You may have to do this in 2 batches. Stir the mixture back into the pot .
Add remaining corn and turkey bacon. Cook for 5 more minutes.
Remove bay leaf.
Top with green onion and/or additional sauteed red pepper, cheese and/or additional turkey bacon as desired.