Set pressure cooker to "sear", adjust time to 8 minutes, and add bacon. Cook until crispy, about 7 minutes.
Add collard greens and garlic. Pack them into pressure cooker pot (greens will wilt down during cooking).
Add water and close and lock lid. Set pressure cooker to "steam/veggies" and press "start/stop". When done, quick release and make sure all pressure is released before opening lid.
Carefully open lid, stir, and adjust seasoning as needed.
Ladle into a serving dish and squeeze lemon juice and sprinkle zest over greens.