In a large saucepan, melt the butter over medium heat. Add the chopped onion and sauté until it becomes translucent and lightly golden, about 5-7 minutes. Stir occasionally to prevent burning.

Add the garlic powder, salt, and black pepper to the onions, stirring well to combine.

Pour in the rice and stir to coat the grains with the butter and onion mixture. Cook for an additional 2 minutes, stirring frequently.

Carefully add the broth to the saucepan and bring to a boil.

Once boiling, reduce the heat to low, cover the saucepan, and let it simmer for 18-20 minutes or until the rice is tender and has absorbed the liquid.

Remove the saucepan from heat and let it sit, covered, for an additional 5 minutes. Fluff the rice with a fork before serving.

If desired, garnish with fresh parsley before serving.