Preheat oven to 400°. Rinse, pat dry and prick potatoes all over with a fork. Lightly drizzle with olive oil and season with salt and pepper. Place onto an oven safe wire rack in a lined baking sheet or, if you want them to cook faster, you can wrap tightly in foil* (but the potatoes won't have a crispy exterior). Bake for about 1 hour. Bake for 2 hours directly on the baking sheet or wire rack (not wrapped in foil) if a crispier skin is desired.
Remove from oven, cut lengthwise slits in the top of each potato. Gently and carefully open the potato and fluff up and sprinkle with cheddar cheese. Place back into the oven for about 3 to 5 minutes so the cheese can melt.
Remove from oven, top with sour cream, crispy bacon bits and green onions. Season with salt and pepper if desired. Enjoy while hot!
Notes
For oven baked bacon, I line the bacon on a foil lined baking sheet in an even layer. Bake the bacon in the same oven at 400 degrees for about 25 minutes. For better results, bake the bacon on an oven safe wire rack placed into a covered baking sheet. *Some people wrap potatoes in foil for a variety of reasons: including to keep them warm and to make them cook faster. However, wrapping potatoes in foil can sometimes cause them to become soggy and have a "boiled" taste and texture.