This standard green backlight HD44780 LCD is great for your arduino projects. It supports 20 characters wide and 4 rows in black text on green background. As the pin resources of Arduino microcontrollers is limited, your may be not able to use normal LCD shield after connected with a certain quantity of sensors or SD card. However, the I2C serial interface only take 2 wires to realize data display. If you already has I2C devices in your project, this LCD module actually cost no more resources at all.
You need solder the I2C serial interface module to the 1602 LCD module by yourself.
Arduino LiquidCrystal_I2C Library