In a mixing bowl add the raw cashews and enough warm water to cover the cashews. Let sit for an hour to soften.
OR
Place the raw cashews in a small saucepan and add enough water to cover the nuts. Heat over medium-high heat until it begins to boil. Reduce the heat to medium and continue a soft boil for 5-7 minutes. Remove from the heat.
Drain the cashews using a colander. Place the softened cashews in a food processor. Add the nutritional yeast, freshly squeezed lemon juice, minced garlic, onion powder, sea salt, and 1/4 cup water. Pulse a few times, scrape down the sides, then process for 20-30 seconds until the ricotta is nice and smooth.
If the ricotta is too thick, add 1 tablespoon of water at a time to the food processor and pulse a few times to mix the water in. Only use up to 2 additional tablespoons of water.
Use the ricotta 'cheese' right away, or place in a covered container and store in the fridge for up to 3 days.