Cut and trim the collard greens, removing the tough stems. Roughly chop the trimmed greens into 1/2-inch ribbons.
Cook the bacon in a large skillet over medium heat until crispy, 8 to 10 minutes. Transfer to a plate with a slotted spoon to leave behind all of the delicious bacon fat to cook the collard greens in.
Add the onions and red pepper flakes to the same skillet. Depending on the bacon you use, you may need more fat in the pan, so add the canola oil if needed. Saute until the onions are softened, fragrant and beginning to brown, 5 to 7 minutes. Add the garlic and sweat 30 seconds. Then add the collard greens, stirring constantly until softened. Pour in the chicken broth and wine and bring to a simmer. Reduce the heat to medium-low, cover and cook until the greens are tender, 30 to 35 minutes.
Once the greens are tender, return the bacon to the pan, add the lemon juice and season with salt and pepper.