In a large saucepan cook turkey and onion over medium-high heat until turkey is no longer pink and onion is tender; drain.
Stir in beer, water, jalapeno peppers, bouillon granules, chili powder, and cumin. Bring to boiling; reduce heat. Simmer, uncovered, for 20 minutes, stirring occasionally. Stir in the drained beans and lime juice; heat through.
If desired, mash half of the beans to thicken chili; stir. Ladle into bowls. If desired, garnish with sour cream, cilantro, and lime wedges; sprinkle with additional chili powder. Pass pepper sauce, if desired. Makes 4 servings.