Preheat oven to 400ºF. Spray 9×5-inch loaf pan with nonstick baking spray and set aside. In a heavy skillet, cook the chorizo with red bell pepper until chorizo is cooked through, stirring to break up sausage. Drain well, remove from heat, stir in green onions, and cool.
In a large bowl, combine the flour, sugar, baking powder and soda, salt and chipotle powder and stir to combine. In a small bowl, combine egg, buttermilk, honey and vegetable oil and beat until well combined. Add cheese along with chorizo mixture and stir gently.
Pour batter into prepared pan and bake at 400ºF for 30 to 40 minutes until bread is deep golden brown and bread pulls away from sides of pan. Remove from pan and cool slightly on wire rack. Cut into thick slices and serve warm.
Variations for a low-fat version: vegetarian Mexican chorizo and low-fat cheese. I have used the vegetarian chorizo many times, it has the same flavors and is delicious!