In a large skillet over medium-high heat cook the bacon until crisp and fat has rendered. Remove with a slotted spoon to a paper towel-lined plate to drain then finely crumble. Reserve bacon drippings or freeze for use in another dish.
Add butter and diced onion to the skillet. Cook the onion over medium until browned and beginning to caramelize, about 10-15 minutes. Add garlic, cook for 1 minute longer or until fragrant. Scrape any browned bits from the bottom of the pan.
Add brown sugar, maple syrup, vinegar, chili powder, pepper flakes and bacon to the skillet. Reduce heat and simmer uncovered until thickened and the liquid has reduced, around 20-25-minutes.
Serve on burgers, crostini, cheese or crackers.
Notes
Spice - I'm a huge fan of sweet and spicy flavor combos, so my jam packs a little heat. You can adjust this to your taste of course, by omitting the red pepper flakes or using less. You could also use paprika alone, instead.
Onion - You can use a white onion, yellow onion or red onion for a stronger onion flavor.
Vinegar - You could use balsamic vinegar or sherry vinegar, in place of apple cider vinegar.
Jam Texture - Should bacon jam be smooth? I prefer to leave the texture of my bacon jam a bit chunky. However, after cooking, you can ladle the bacon-onion mixture into a food processor after cooking and puree until it becomes more of a paste in texture.
Use Butter NOT Bacon Drippings - It may seem sound counterintuitive, but I also want to mention that this jam is best when it's not made with the bacon grease or drippings from cooking the bacon. Why? Because the bacon fat solidifies after it cools and makes it less appetizing.
Serve Bacon Jam Warm or Chilled - This jam can be served both ways. It's also perfectly delicious at room temperature and can safely sit out for serving.
Serving Suggestions - Include this smoky bacon jam as a savory spread on your Charcuterie board and cheese boards. It's also scrumptious served on sandwiches, pork, pizza, use as a savory condiment and burger topping, chicken, subs, slathered on homemade buttermilk biscuits or toast. As pictured, bacon jam crostini slathered with cream cheese and chives. One bite and you'll be hooked.