In a large deep skillet or cast iron skillet cook bacon until crispy over medium heat. Remove crisp bacon onto a paper towel lined plate and set aside.
Remove all but 1-2 TBS of bacon grease from skillet. Add in 2 TBS butter to skillet and allow to melt. Add in diced bell peppers, diced onions, and potatoes. Season with salt, black pepper, garlic powder, onion powder, and paprika. Stir until mix well.
Cook until potatoes are crispy on edges and peppers & onions are softened. Stir in cooked bacon & cheese.
Flatten out mixture and make 5 wells in the skillet. Crack one egg into each well. Season eggs with salt & pepper.
Place lid on skillet and cook about 8-10 minutes over medium heat until the egg whites are set. Garnish with parsley, if desired.