Bacon without smoke???
If you have a old style Traeger, with P-setting adjustment, you could tweak that to possibly get lower, but newer Traegers apparently don't have that.
if you can get close to 180F, that would be OK... Personally I like to do my bacon around 165F, but honestly thre's not really a huge difference between 150F and 180F... Only thing that will happen differently is your internal temperature will be reach faster at the higher temperature, and that might mean less smoke flavor on your bacon. ( unclear if you even want smoke ). The only other thing it will do at the higher temperature, is the fat will begin to render faster then it would if you were at the lower temperature.... generally as long as you don't go too far above 180F, this later issue is not a super big deal...
In short... 150 to 165F would be my first choice of temperatures... but I would not hesitate at making bacon if I could only go as low as 180F.