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Reduce the heat to medium-low, and add your chopped onion and shallots to the same pan you cooked your bacon in. Don’t wipe your pan! Cooking your onions and shallots in the bacon fat is key to a killer bacon jam flavor. Cook until the onions are caramelized—this should take around 15 minutes. Then, add your garlic, brown sugar, maple syrup, vinegar, chili powder, and bacon back into the pan. Cook until the liquid has reduced, and the mixture is thick and deliciously jammy.
Once your mixture has turned into a jam texture, turn off the heat and let it cool. Once cool, transfer to a jar. From there, you can serve however you like! On a burger or a cheese plate are classic choices, but I love it spooned on top of crostini as well.