In a large bowl, combine the potatoes, oil, salt, pepper and chili powder. Toss until the potatoes are evenly coated with the seasoning. Spread the potatoes out on a sheet tray lined with parchment paper. Bake the potatoes for 25-30 minutes or until tender when pierced with a fork.
While the potatoes are cooking, mix the sour cream, the dip mix and the heavy cream in a medium bowl; combine well.
Once the potatoes are done, transfer the wedges to a serving platter.
Spoon the sour cream sauce over the potatoes. Top the wedges with bacon bits and green onions.